New IRS Vehicle Mileage Rates for 2014

This year the standard mileage rate has been reduced by half a cent from 2013.   Beginning January 1, 2014 the new standard mileage rate for business driving is 56 ¢ per mile.

The rate for medical travel and moving also declined to 23.5 ¢ per mile.

The rate for charitable driving remains unchanged at 14 ¢ a mile.

If you are using the standard mileage rate you can also deduct the cost for parking and tolls.

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