Optional Standard Mileage Rates Updated for 2010
The IRS has updated the optional standard mileage rates for use by employees, self-employed individuals or other taxpayers in computing the deductible costs of operating a passenger automobile for business, charitable, medical, or moving expense purposes. The new rates apply to costs paid or incurred on or after January 1, 2010
1.The standard mileage rate for transportation expenses is 50 cents per mile for all miles of use for business purposes.
2.The standard mileage rate for transportation expenses is 50 cents per mile for all miles of use for unreimbursed employee business expenses
3.The standard mileage rate of 14 cents per mile applies for purposes of computing the charitable deduction for use of an automobile in connection with rendering gratuitous services to a charitable organization under Code Sec. 170.
4.The standard mileage rate for use of an automobile to obtain medical care is 16.5 cents per mile.
The standard mileage rate for use of an automobile to obtain moving expenses is 16.5 cents per mile.