News & Resources

IRS Issues New Standard Mileage Rates

On Dec. 6 the Internal Revenue Service released the 2014 optional standard mileage rates.

As of 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

These and other requirements for a taxpayer to use a standard mileage rate to calculate the amount of a deductible business, moving, medical, or charitable expense are in Rev. Proc. 2010-51.

For more information, please visit the IRS website or contact us.