New mileage rates? Hooray!

mileage

The IRS has issued the 2014 optional standard mileage rates used to calculate the deductable cost of operating an automobile. Beginning on January 1, 2014, the standard mileage rates for the use of an automobile will be: 56 cents per mile for business miles driven, 23.5 cents per mile driven for medical or moving purposes, and 14 cents per mile driven in service of charitable organizations. Try and keep your excitement to a minimum.

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