Tag Archives: standard mileage rates

2016 Automobile Mileage Rates

The IRS released the 2016 standard mileage rates for business, medical and moving in December. The rates have decreased from 2015, probably due to the decrease in the cost of gasoline.  Effective January 1, 2016, the standard mileage rates for … Continue reading

Posted in Deductible Expenses, Tax Compliance | Tagged , , , , , | Leave a comment

2014 Standard Mileage Rates

Today, the IRS announced the standard mileage rates for 2014.  The standard rates are an optional method taxpayers may use to calculate the deductible costs of operating an auto for business, medical, charitable or moving purposes. Effective January 1, 2014, … Continue reading

Posted in Deductible Expenses | Tagged , , , , | Leave a comment

More on Mileage

The IRS classifies all car usage into three categories:  business, commuting, and personal.  “Business  use” miles generally means travel between two business destinations.  Examples of trips that are deductible include: Travel from one client or customer to another Travel from … Continue reading

Posted in Deductible Expenses | Tagged , , , , , , | Leave a comment

Q & A: Standard Mileage or Actual Expenses?

The IRS allows two methods for taxpayers to use to account for their vehicle expenses, the standard mileage rate and actual cost of operating the vehicle.  Which method yields the highest deduction?  There is no clear answer, but let’s take … Continue reading

Posted in Deductible Expenses | Tagged , , , | Leave a comment

2013 Standard Mileage Rates

The IRS issued the 2013 standard mileage rates last week.  Beginning on January 1, 2013, the standard mileage rates for the use of an automobile will be: 56.5 cents per mile for business miles 24 cents per mile for medical … Continue reading

Posted in 2013 Tax Changes | Tagged , , , , | Leave a comment