IRS announces mileage rates for 2012
Dec 12, 2011
The IRS just announced standard mileage rates for 2012. The rates are used to calculate the deductible costs associated with using automobiles for business, charitable, medical and moving purposes.
Starting January 1, 2012, you may use the following standard mileage for cars, vans, pickup trucks and panel trucks:
- 55.5 cents per mile for business miles driven
- 23 cents per mile driven for medical or moving purposes
- 14 cents per mile driven in service of charitable organization
Read more details on the IRS website.
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