IRS Adjusts Mileage Rates

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IRS announced the new standard mileage rates that can be used to deduct auto
expenses related to business, medical, moving, and charitable purposes (IRS Notice 2012-72).  Beginning January 1, 2013, the following
rates will apply:

  • 56.5 cents per mile for business travel (a 1
    cent per mile increase from 2012);
  • 24.0 cents per mile for medical related mileage
    and moving travel (a 1 cent per mile increase from 2012);
  • 14 cents per mile driven in service of
    charitable organizations (no change from 2012).

have the option of using the higher of actual expenses or the amount using
actual business mileage multiplied by the standard mileage rate.

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