IRS announces new standard mileage rates for 2015 — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

IRS announces new standard mileage rates for 2015

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in Small Business Tax,Small Business Tax Deduction Strategies

The IRS has announced new standard mileage rates for 2015. (IRS Notice 2014-79, 12/10/14)

In lieu of deducting actual business auto expenses, you can deduct a flat rate of 57.5 cents per business mile, up from 56 cents in 2014, plus parking and tolls. But the standard rate for medical or moving expense driving drops to 23 cents per mile for 2015, down from 23.5 cents per mile in 2014. The flat rate for charitable driving remains at 14 cents per mile.

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