IRS slams the brakes on mileage rates for 2010 — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
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IRS slams the brakes on mileage rates for 2010

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in Small Business Tax

The IRS recently announced the new “standard mileage rates” that you can use in 2010 without keeping detailed records of your vehicle travel expenses. (IRS Revenue Procedure 2009-54) Mild surprise: The new rates listed below are lower or the same as the rates for 2009:

  • The rate for business travel drops from 55 cents per mile in 2009 (plus business-related tolls and parking fees) to 50 cents per mile in 2010.
  • The rate for medical travel and job-related moving expenses drops from 24 cents per mile in 2009 to 16.5 cents per mile in 2010.
  • The rate for charitable travel stays the same as it was in 2009: 14 cents per mile.

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