Mileage Rates

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IRS Releases Mileage Rates for 2012

By | December 9th, 2011|Categories: Small Businesses Taxes|Tags: , , |

The IRS has released the mileage rates for 2012. The rates are the same as they were for the last half of 2011: Business mileage rate is 55.5 cents/mile. Medical mileage rate is 23 cents/mile Moving expense rate is also 23 cents/mile Charitable mileage rate is 14 cents/mile* *-Unlike the mileage rates for business, medical and [...]

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Mileage Rate Increases July 1

By | June 23rd, 2011|Categories: Small Businesses Taxes|Tags: |

The IRS announced today that the standard rate for mileage deductions increases to 55.5 cents per mile on July 1.  This is an increase from the current rate of 51 cents.  The rate for moving expenses and medical mileage increase to 23.5 cents (up from 19 cents).  The rate for charitable mileage remains at 14 cents [...]

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Deducting Charitable Mileage (And Other Miscellaneous Charitable Deductions)

By | December 16th, 2010|Categories: State Taxes|Tags: , , , |

An often overlooked charitable deduction is the deduction for mileage driven for charitable purposes. Taxpayers can take a deduction -- 14 cents per mile in 2010 and 2011 -- for mileage driven in giving services to a charitable organization, or taxpayers can take a deduction for the actual cost of gas and oil associated with giving services [...]

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IRS Announces Mileage Rates for 2011

By | December 3rd, 2010|Categories: Small Businesses Taxes|Tags: |

The IRS has released the mileage rates for 2011.  The regular mileage rate increased by 1 cent; the rate for medical mileage increase by 2.5 cents; and the rate for charitable mileage remains the same as in 2010. Mileage rate for 2011:  51 cents per mile (up 1 cent from 2010) Medical mileage rate:  19 cents per [...]

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