The 2022 Mileage Rates ******************************** Need rates for earlier years? Click here. Beginning on Jan. 1, 2022, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:• 58.5 cents per mile for business miles driven.• 18 cents per mile driven for medical or moving purposes.• 14 cents […]
************************************************ See the IRS mileage rate table below: Note: 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. Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the […]
Mileage log requirements clarified: [Call us for a review]: A deduction for the ordinary and necessary expense of transportation, whether in a company vehicle or reimbursement of mileage to employees, has long been an allowable deduction for businesses. However, the recent Tax Court case, DAVID H. GARZA v. Commissioner, makes it clear that a deduction […]