Drake Software blog for tax pros, covering tax, IRS news, and more
The Internal Revenue Service has set the optional standard mileage rates for 2020. These rates are used to figure the deductible costs of operating a vehicle for business, charitable, medical or moving purposes.…
The Internal Revenue Service has unveiled higher standard mileage rates for use during the 2018 tax year.…
WASHINGTON — The Internal Revenue Service issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving…
Read more about New Standard Mileage Rates Now Available; Business Rate to Rise in 2015
The standard mileage rate for business purposes is based on an annual study of the fixed and variable costs of operating an automobile, while the rate for medical and moving purposes is based solely on the variable costs...…
