The IRS recently released the 2013 mileage rates for calculating deductible costs of operating vehicles for business. (The rates are also applicable for charitable, medical, and moving costs).
On Jan. 1, 2013, the standard mileage rates will increase to:
- 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
Keep in mind that you do have the option of calculating the actual costs of using your vehicle rather than using the standard mileage rates, but you can’t use the rates for any vehicle you’re taking depreciation on (claiming a Section 179 deduction for that vehicle).
To learn all the requirements for using a standard mileage rate, see Rev. Proc. 2010-51.