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.

http://www.irs.gov/uac/2013-Standard-Mileage-Rates-Up-1-Cent-per-Mile-for-Business,-Medical-and-Moving

IRS Announces 2012 Tax Deduction Rates

OK, they've finally posted the new rates! Very little change from the mid-2011 rates. Here's an excerpt from the official IRS.gov website:

"Beginning on Jan. 1, 2012, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

• 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 organizations

The rate for business miles driven is unchanged from the mid-year adjustment that became effective on July 1, 2011. The medical and moving rate has been reduced by 0.5 cents per mile."

For the full statement, see the irs.gov website --> http://www.irs.gov/newsroom/article/0,,id=250882,00.html

Happy driving!