IRS Releases Mileage Rates for 2023 Tax Year
The IRS standard mileage rates for 2023 are 65.5 cents for business miles, 22 cents for medical and moving, and 14 cents for charitable miles.
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New Proposal Would Boost Charitable Mileage Rate
This week, Rep. Nolan (D-MN) introduced a post-tax reform bill to equalize the charitable and business mileage rates. Here’s what you need to know.
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Taxes From A To Z (2018): M Is For Mileage
It’s Taxes From A to Z. M is for Mileage.
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IRS Announces 2018 Mileage Rates Even Though Tax Reform Talks May Limit Use
The Internal Revenue Service (IRS) has issued the 2018 optional standard mileage rates. They are effective beginning January 1, 2018 – even if some of them might not be applicable to taxpayers under the current tax reform proposals.
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With Gas Prices Falling, IRS Announces Lower 2016 Standard Mileage Rates
The Internal Revenue Service (IRS) has issued the 2016 optional standard mileage rates and beginning on January 1, 2016, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 54 cents per mile for business miles driven (down from 57.5 cents in 2015) 19 cents per mile driven for…
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Taxes From A To Z (2015): A Is For Actual Expense Method
It’s my annual “Taxes from A to Z” series! For the series, I’ll focus on terms that you might see on your tax forms and statements but not necessarily in the headlines. If you’re wondering whether you can claim wardrobe expenses or whether to deduct a capital loss, this is one series you won’t want…
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The Cost Of Getting Better: Deducting Medical Expenses
I’m back in North Carolina for the second time in two weeks, this time with Nurse Kate (my daughter) in tow. My mom had heart valve replacement surgery last week and it wasn’t without her complications: her lung collapsed the day after the surgery and the resulting 24 hours was quite stressful. Mom is back…
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Midyear Mileage Rate Changes Offer Relief, Likely To Cause Confusion
After months of speculation and roller coaster oil prices, the IRS finally announced an increase in the optional standard mileage rates. The IRS generally only updates mileage rates once a year. However, with gas prices still on the rise, the IRS made an adjustment midyear. Doug Shulman said, about the increase: This year’s increased gas prices…
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We Have Our Logbook Winners!
Thanks to all who participated in our Logbook contest! Our winners are Jennifer and John. Congrats! You can read all of the comments here.
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Mileage? There’s An App For That.
Despite the much-ballyhooed drop in the IRS’ standard mileage rates for 2010, they’re still not bad. For 2010, the rates are: 50 cents per mile for business miles driven 16.5 cents per mile driven for medical or moving purposes 14 cents per mile driven in service of charitable organizations Yes, the rates are slightly lower…
