Fyi

[Fkatz]

Good Morning All, Mileage Rates Released for 2014

washington, D.C. (December 8, 2013)

By Jeff Stimpson
The IRS has issued its 2014 optional standard mileage rates to calculate deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2014, the standard mileage rates for the use of a car, van, pickup or panel truck under a Gross Vehicle Weight of 10,000 LBS will be:

• 56 cents per mile for business miles;
• 23.5 cents per mile driven for medical or moving purposes; and,
• 14 cents per mile driven in service of charitable organizations.

The business, medical and moving expense rates decrease one-half cent from the 2013 rates. The charitable rate is based on statute.
Franklin Katz, RTRP, ATP, PA, PB

Frank's Tax & Business Service
315 E. King St.
Kings Mountain, NC28086
Local # 704-739-4039 Toll Free# 877-857-1040
E-Mail: [email protected])
Web: Filing Services


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