| Automobile Mileage reimbursement Rate |
|
Taxpayers have an option in computing expenses for deductible automobile usage—either the actual expenses of operating the vehicle, or a standard mileage rate. The standard mileage rate for 2010 is 50 cents. For medical and moving mileage, rate is 16.5 cents. As the mileage rate for charitable use of an automobile is fixed in the law, rather than delegated to the IRS, the rate remains at 14 cents per mile.
On January 1, 2011 the automobile mileage rate changes again to 51 cents for business use, and 19 cents for medical and moving. The Charitable Rate remains at 14 cents.