A tax deduction that you may have missed
It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.
Beginning January 1, 2013:
56.5 cents/mile (business miles driven)
24 cents/mile driven (medical or moving
purposes)
14 cents/mile driven (in service to
charitable organizations)
| Historical Mileage Rates | |||
Year: |
Business |
Medical or Moving |
Charitable Service |
| 2012 IRS Mileage Rate | 55.5 Cents/Mile | 23 Cents/Mile | 14 Cents/Mile |
| 2011 IRS Mileage Rate(July 1 – December 31) | 55.5 Cents/Mile | 23.5 Cents/Mile | 14 Cents/Mile |
| 2011 IRS Mileage Rate(January 1 – June 30) | 51 Cents/Mile | 19 Cents/Mile | 14 Cents/Mile |
| 2010 IRS Mileage Rate | 50 Cents/Mile | 16.5 Cents/Mile | 14 Cents/Mile |
| 2009 IRS Mileage Rate | 55 Cents/Mile | 24 Cents/Mile | 14 Cents/Mile |
| 2008 IRS Mileage Rate(July 1 – December 31) | 58.5 Cents/Mile | 27 Cents/Mile | 14 Cents/Mile |
| 2008 IRS Mileage Rate(January 1 – June 30) | 50.5 Cents/Mile | 19 Cents/Mile | 14 Cents/Mile |
| 2007 IRS Mileage Rate | 48.5 Cents/Mile | 20 Cents/Mile | 14 Cents/Mile |
| 2006 IRS Mileage Rate | 44.5 Cents/Mile | 18 Cents/Mile | 14 Cents/Mile |
