IRS Changes Standard Mileage Rates For 2013

The Internal Revenue Service recently announced changes to the standard mileage rates for taxpayers to use in computing the 2013 deductible costs of operating an automobile for business, charitable, medical and moving expense purposes.

Beginning January 1, 2013, the standard mileage rate for business use of a vehicle has been increased to 56.5 cents per mile from the 2012 rate of 55.5 cents per mile.  The standard mileage rate for miles driven for medical or moving purposes has been increased to 24 cents per mile from the previous 2012 rate of 23 cents per mile.  The standard rate for use of a vehicle in rendering gratuitous services to a charitable organization will remain at the 2012 rate of 14 cents per mile in 2013.

Please contact one of our tax professionals at 615-320-5500 or the email addresses listed below for questions regarding this or any other tax matter.

Scott Tomichek, CPA, JD

Rodney Brower, CPA

Richard Winstead, CPA