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IRS Mileage Rate for 2015

(posted: December 14th, 2014)

The IRS announced last week that the optional standard mileage rates for use of a vehicle will change slightly in 2015.

Effective January 1, 2015, the rates for the use of a vehicle such as a car, van, SUV or pickup truck will be:

  • 57.5 cents per mile for business use
  • 23 cents per mile driven for medical care or as part of a move
  • 14 cents per mile driven in service to a charitable organization

Taxpayers can use the IRS standard mileage rate instead of keeping track of actual expenses of operating a vehicle. As per the IRS, to claim actual expenses, the "taxpayer must maintain adequate records or other sufficient evidence."

Keep in mind that in order to claim the standard mileage rate, you still must keep track of the actual number of miles driven and the business purpose. Mileage information can be written in a notebook, tracked in a mobile app or software program, or documented automatically with a physically installed device.

Here are a couple of low cost smartphone apps for tracking mileage:

Companies with employees that drive for business a lot might look at automated trackers, along the lines of Mileage Ace.

Remember, these are the rates for 2015!

You can find the official IRS notice of 2015 mileage rates here.

And, of course, please contact us if you have questions or concerns about how standard mileage rates apply to you and your business.

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