Monday, December 10, 2012

IRS Standard Mileage Rates for 2013

The standard mileage rate for business miles has increased 1 cent to 56.5 cents per mile. The medical and moving rate is 24 cents per mile, and the charitable rate stays at 14 cents per mile. Mileage should be documented by a taxpayer by some type of contemporaneous written record such as the "enter company mileage" under the company section in Quickbooks or a mileage log.

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