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IRS Raises Standard Mileage Rate for Businesses

December 11, 2014

The Internal Revenue Service issued the 2015 optional standard mileage rates that are used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck will be 57.5 cents per mile for business miles driven, up from 56 cents in 2014.

The rate will be 23 cents per mile driven for medical or moving purposes, down half a cent from 2014, and 14 cents per mile driven in service of charitable organizations.

– Michael Cohn, Accounting Today

   

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