The current mileage rate for business travel is 58 cents per mile. That means you can deduct 58 cents for every mile you drive for business purposes. The rate for medical and moving purposes is 24 cents per mile. The rate for charitable purposes is 14 cents per mile.
If you use your car for business, you can deduct the business-use portion of your car expenses on your taxes. The IRS allows you to deduct 58 cents per mile of business travel, which includes travel to meetings, conventions, and business-related errands.
If you use your car for medical purposes, you can deduct the medical-use portion of your car expenses on your taxes. The IRS allows you to deduct 24 cents per mile of medical travel, which includes travel to doctor’s appointments, hospitals, and other medical-related errands.
If you use your car for charitable purposes, you can deduct the charitable-use portion of your car expenses on your taxes. The IRS allows you to deduct 14 cents per mile of charitable travel, which includes travel to volunteer activities, charity events, and other charitable-related errands.
The current mileage rate for 2019 is 58 cents per mile. This rate is used to calculate the deductible costs of operating a vehicle for business, charitable, medical or moving purposes. The mileage rate for 2019 is an increase of 2 cents from the rate for 2018. The new rate is effective for all miles driven on or after January 1, 2019.
If you use your vehicle for business purposes, you can deduct the cost of operating the vehicle on your taxes. The deduction is calculated by taking the total number of miles driven for business purposes and multiplying it by the IRS mileage rate. For example, if you drove 1,000 miles for business purposes in 2019, you could deduct $580 on your taxes.
The IRS mileage rate can also be used to calculate the deductible costs of driving for charitable purposes. The mileage rate for charitable purposes is 14 cents per mile. For example, if you drove 100 miles for a charity event, you could deduct $14 on your taxes.
The mileage rate can also be used to calculate the deductible costs of driving for medical purposes. The mileage rate for medical purposes is 20 cents per mile. For example, if you drove 100 miles to and from doctor’s appointments, you could deduct $20 on your taxes.
The mileage rate can also be used to calculate the deductible costs of driving for moving purposes. The mileage rate for moving purposes is 20 cents per mile. For example, if you drove 100 miles to your new home, you could deduct $20 on your taxes.
The IRS mileage rate can save you money on your taxes by allowing you to deduct the cost of operating a vehicle for business, charitable, medical or moving purposes. Be sure to keep track of your mileage and save your receipts in order to take advantage of this deduction.
