How Do You Calculate Mileage For Taxes?
• Buy a small notebook to record mileage. Keep it in your car at all times so that mileage can be recorded as it is incurred. • Visit the Internal Revenue Service (IRS) website at www.irs.gov to learn about the types of mileage deductions and the rate per mile. Effective Jan. 1, 2009, the standard mileage rates are as follows: • 55 cents per mile traveled for business • 24 cents per mile traveled during a move • 24 cents per mile traveled for medical reasons • 14 cents per mile traveled when donating to or working for charitable organizations • Learn more about the deduction qualifications for each of those categories. • Mileage deducted for business purposes includes travel to clients or customers, going to a business meeting away from a regular workplace, going to a temporary workplace or traveling among several offices within a region. • Mileage deducted for moving purposes must meet a distance or time qualification. The first stipulates that a new home must be at least 50 miles fro
