2014 Business Mileage Rate

It is almost time to rev up those engines and start accumulating those 2014 business miles. What is mileage rate you are wondering starting on January 1, 2014? That is a great question! The 2014 standard business mileage rate is:

56 cents per mile

The miles driven for charity, medical, and moving mileage rates were also announced starting on January 1, 2014:

14 cents per mile for charity purposes
23.5 cents for mile for moving or medical purposes

Also do not forget to keep a mileage log for the year in case of an audit. Please consult your tax advisor on all the above information and visit our website to inquire about further information, www.steveveseycpa.com.