2014 Mileage Rates Announced

indexOn Friday December 6th, the IRS announced the 2014 mileage rates.  The business mileage rate has been lowered from $0.565 per mile in 2013 to $0.56 per mile in 2014.

The deductible final move mileage rate was lowered from $0.24 per mile in 2013 to $0.235 per mile in 2014.  The charitable mileage rate remains unchanged at $0.14 per mile.

The optional standard mileage rates are used to easily calculate the amount of a deductible business, moving/relocation, medical or charitable expense (miles driven times the applicable rate).  As noted above, these rates go into effect at the beginning of 2014 for the 2014 calendar year.

For the latest news and trends in global relocation,  follow us on twitter @reloamerica

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s