Taxpayers who want to deduct car mileage on their taxes may be interested in the new standard mileage rates issued by the IRS.
The business, medical and moving rates for 2013 are up one cent from last year.
- 56.5 cents per mile for business miles driven
- 24 cents per mile driven for medical or moving purposes
- 14 cents per mile driven in service of charitable organizations
The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile, the IRS said. The rate for medical and moving purposes is based on the variable costs.
Taxpayers may also calculate the actual costs of using their vehicle instead of using the standard mileage rates.