The IRS has announced the optional 2015 standard mileage rates for use in computing the deductible costs of operating a passenger automobile for business, charitable, medical, or moving expense purposes.
Effective January 1, 2015, the standard mileage rates are as follows:
- Business use of auto: 57.5 cents per mile may be deducted if an auto is used for business purposes
- Charitable use of auto: 14 cents per mile may be deducted if an auto is used to provide services to a charitable organization
- Medical use of auto: 23 cents per mile may be deducted if an auto is used to obtain medical care (or for other deductible medical reasons)
- Moving expense deduction: 23 cents per mile may be deducted if an auto is used to effect a work-related move to a new home
If you have questions, contact the experts at Henssler Financial:
- Experts Request Form
- Email: experts@henssler.com
- Phone: 770-429-9166
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