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Optional Standard Mileage Rates 2014

Optional standard mileage rates for use of a vehicle will go down slightly per mile for 2014. Taxpayers can use the optional standard mileage rates to calculate the deductible costs of operating an automobile.

For business use of a car, van, pickup truck, or panel truck, the 2014 rate will be 56 cents per mile. Driving for medical or moving purposes may be deducted at 23.5 cents per mile. Both rates are .5 cent lower than for 2013.

The rate for service to a charitable organization is unchanged, set by statute (Sec. 170(i)) at 14 cents a mile

 

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“Harbor Networks has been a customer of Paresky & Flitt for almost 20 years now. The team there is proactive, thorough, and has great depth in accounting knowledge with specialists on staff...
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Greg Bertschmann
Harbor Networks, Inc.