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.
We started our residential real estate business and brought Damon on as our principal adviser for all matters relating to taxes & accounting. We have doubled our business each year and Damon is a critical partner that has allowed us to successfully focus on our business.
Damon Yudichak is a diligent and consistent professional. I’ve worked with Damon since 2009 and I’ve felt like a valued customer since the beginning of our relationship. His firm is consistent, courteous, and knowledgeable. He and his firm are a vital link to my business.
Owning a small business… to me, it’s worth millions! Bringing Damon on for accounting and tax purposes… just a reasonable monthly fee! Keeping our business legal and my business partner sane… PRICELESS!