Mileage Rates Reimbursement Rates to Decrease by Half a Cent on January 1, 2014

© Jennifer Grady

© Jennifer Grady

Beginning on Jan. 1, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

-56 cents per mile for business miles driven
-23.5 cents per mile driven for medical or moving purposes
-14 cents per mile driven in service of charitable organizations

The business, medical, and moving expense rates decrease one-half cent from the 2013 rates.  The charitable rate is based on statute.

Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.

For more information, visit the IRS website.

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