WASHINGTON – The Internal Revenue Service recently issued the 2010 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Effective Jan. 1, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) is:
- 50 cents per mile for business miles driven
- 16.5 cents per mile driven for medical or moving purposes
- 14 cents per mile driven in service of charitable organizations
The new rates for business, medical and moving purposes are slightly lower than last year’s. The mileage rates for 2010 reflect generally lower transportation costs compared to a year ago.
Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.
For more information, visit www.irs.gov.