SUMMARY OF STANDARD MILEAGE RATES:
(1) Business 50 cents per mile
(2) Charitable contribution 14 cents per mile
(3) Medical and moving 16.5 cents per mile
The Standard Mileage rate can not be used for any vehicle for which depreciation has already been taken. Whether a taxpayer chooses to use Standard Mileage or the alternative “percentage of exact expenses” a mileage log must be maintained. The mileage log must be maintained contemporaneously with the usage and must detail the place driven and the reason. Passenger vehicles not for hire fall under these regulations. That means they apply to the typical pickups driven by most contractors and subcontractors.
If you don’t want to abide by these regulations, buy a service van with racks in the back. If you want to drive the typical car or pickup, these rules do apply.
Mileage Log Example
