The Internal Revenue Service today issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
IRS announced that 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. Of course, taxpayers have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.
MileLogr makes it amazingly simple to get mileage logs that let you take advantage of this tax deduction. It connects to your online calendar and uses your appointment information to generate the mileage logs.
You can try MileLogr for free now at www.milelogr.com.