The IRS has announced the new optional standard mileage rates which are used to calculate the deducible cost of operating a vehicle for business, charitable, or for moving purposes. Starting on January 1, 2010, the standard mileage rates are:
- 50 cents per mile for business miles driven
- 16.5 cents per mile for medical or moving purposes
- 14 cents per mile for charitable purposes
The 2010 rates for business and medical/moving are lower than the rates in effect for 2009; the charitable rate stays the same.
Tags: IRS, Mileage, Tax
This entry was posted by Richard Rogers, EA on Wednesday, December 9th, 2009 at 8:47 am and is filed under For Businesses, Mileage. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
About The Author
Richard Rogers has been working as a tax professional for over six years and has been working with small businesses for over 20. As an enrolled agent, he routinely represents the interests of taxpayers before the Internal Revenue Service and Franchise Tax Board. He works in a tax practice that focuses on the special needs of individuals and small businesses.
Richard currently is employed in a private tax practice where he helps people and businesses resolve their tax issues, minimize their tax liability, and plan for their financial future. While Richard does most types of tax returns including individual, he specializes in small business returns including C-Corporation, S-Corporation, Partnership and LLC returns.
Richard also has a strong background in accounting, management, and information systems as he worked as a CFO and CIO for a software development company for 12 years.
Richard earned a bachelor’s degree in Business Administration from San Diego State University with in emphasis in Information Systems. He also taught business courses at the university. He currently stays abreast of tax law changes through continuing education, seminars, and research via the Internet.
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