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The 2014 Mileage Rates Mileage

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2014 Mileage Rates are Announced ~
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.
Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates. To claim actual, receipts must be maintained.
Mileage logs must be maintained for all business vehicles and/or for all business miles regardless as to whether you claim the standard mileage rate or your actual expenses.
Contact us for more information on this or for information concerning additional expenses you may take even when taking the standard mileage rate.

CIRCULAR 230 DISCLOSURE: To ensure compliance with the requirements imposed by the IRS, we inform you that, to the extent this communication addresses any tax matter, it was not written to be (and may not be) relied upon to (i) avoid tax-related penalties imposed under the Internal Revenue Code, or (ii) promote, market or recommend to another party any transaction or matter addressed herein. Likewise, nothing herein is intended to convey an expression of an opinion as to the likelihood a tax position would ultimately prevail if challenged by the IRS.

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