Monday, February 4, 2013

2013 Standard Mileage Rates

Q.  Is there any increase of standard mileage rates in 2013? Gas prices seem to go ever higher!

A.  Yes, but it won't offset the higher gas and diesel prices. Beginning 1/1/13 business mileage rates are 56.5 cents per mile, charitable mileage rates remain at 14 cents per mile, and medical and moving mileage increase from 23 to 24 cents per mile. Please remember to keep proper records or you may lose this deduction entirely!

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