The
IRS announced the new standard mileage rates that can be used to deduct auto
expenses related to business, medical, moving, and charitable purposes (IRS Notice 2012-72). Beginning January 1, 2013, the following
rates will apply:
- 56.5 cents per mile for business travel (a 1 cent per mile increase from 2012);
- 24.0 cents per mile for medical related mileage and moving travel (a 1 cent per mile increase from 2012);
- 14 cents per mile driven in service of charitable organizations (no change from 2012).
Taxpayers have the option of using the higher of actual expenses or the amount using actual business mileage multiplied by the standard mileage rate.
Like any good CPA, I need to add a disclaimer: Unfortunately, it is impossible to offer comprehensive tax info over the Internet, no matter how well-researched or written. And remember, I love my readers, but having me bookmarked on your computer doesn’t make you a client: Before relying on any information given on this site, contact a tax professional to discuss your particular situation.
