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.
- Small Business Tax Deduction Strategies No matches