The IRS allows taxpayers to deduct mileage from their income taxes if they use their cars for business. If people use current standard mileage rates for deductions, they may also include parking fees and tolls incurred for business purposes, explains the IRS.
The Internal Revenue Service posts optional standard mileage rates on its website. As of 2015, the rate is 57.5 cents per mile for business purposes, 23 cents per mile for moving or medical purposes, and 14 cents per mile for charitable purposes.
For 2015, the standard mileage-rate deduction for operating an automobile for business purposes is 57.5 cents per mile, according to the IRS. The standard mileage-rate deduction for operating an automobile for charitable purposes is 14 cents per mile, and 23 cents per m...
The Internal Revenue Service's standard mileage rates are on IRS.gov under the Newsroom section, explains the agency. As of 2015, the rate for the use of a car driven for business is 57.5 cents per mile.
The Internal Revenue Service calculates the standard mileage rate based on a yearly study of how much it costs to operate a vehicle. If a person is using a vehicle for medical or moving purposes, the mileage rate is only based on variable costs.
The IRS mileage tax deduction is a deductible credit that can be written off of taxes, a medical or moving expense or an expense related to charitable service. The 2014 rates for these write-offs per mile were 56 cents for business, 23.5 cents for medical or moving and ...
It is best to get the mileage allowance figures directly from the IRS to ensure it is accurate information for the year the taxes are being filed. These figures can change year to year so one risks getting incorrect information if they obtain them from other websites.