2014 Standard Mileage Rate

The Internal Revenue Service has now issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

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.

The rate for business miles driven during 2014 decreases 0.5 cent from the 2013 rate. The medical and moving rate is also down 0.5 cent per mile from the 2012 rate.

For complete details from the IRS, click here.

Remember to keep a log of your mileage for every trip you take.  This will make tracking your mileage much easier when the end of the year arrives.

Contact Us for questions on the new standard mileage rate.