Standard Mileage Rates

Many taxpayers prefer to use the Standard mileage rate for deducting their business, charity, medical or moving mileage, perhaps because they find it more convenient than tracking all actual expenses related to non-personal use of their cars.

However, it takes only slightly more discipline and time to substantiate Actual mileage expense, rather than Standard. And, in most cases, the Actual expense deduction will be greater than the Standard.

The time is now to strategically plan to stop wasting money on taxes you are not required to pay.


Here are the IRS rates for 2009 and prior tax years.

STANDARD MILEAGE RATES
_____Business___Med___Charity
_____________& Moving
2009 $0.550 $0.24__$0.14
Business rate includes $0.21/mile depreciation

Last
half
2008 $0.585 $0.27__$0.14
Business rate includes $0.21/mile depreciation

1st
half
2008 $0.505 $0.19__$0.14
Business rate includes $0.21/mile depreciation

2007 $0.485 $0.20__$0.14
Business rate includes $0.19/mile depreciation