Friday, December 28, 2012

New IRS 2013 Mileage Rates for Tax Deduction and Reimbursement

The new rates from the IRS are now out for mileage reimbursement when driving your own vehicle for business, charity, and/or medical/moving purposes. Please look for a new release of MileBug containing these rates in the next week or so, depending on Apple's review process.
Business:            56.5 cents/mile
Charity:               14 cents/mile
Medical/Moving: 24 cents/mile
Both the business and medical/moving rates went up 1 cent/mile while the charity rate remained the same. For more information, you can refer to the official IRS announcement.