Up-to-the-minute advice, information, resources, and, on occasion, commentary on federal and New Jersey state income taxes, and the various New Jersey property tax rebate programs, and insights and observations on tax policy and professional tax practice, by 40-year veteran tax professional Robert D Flach.
Friday, December 6, 2013
THIS JUST IN - 2014 STANDARD MILEAGE ALLOWANCE
The IRS has
announced the new 2014 standard mileage allowance rates for business, charitable,
medical, and moving use of an automobile.
1, 2014, the standard mileage rates are –
•Business Mileage = 56 cents per mile
•Medical and Moving Mileage = 23.5 cents per
•Charitable Mileage = 14 cents per mile
The portion of the
business standard mileage rate that is treated as depreciation is 22 cents per
The 2014 business
and medical and moving rates are a half cent less than those that apply for 2013 mileage.
The charitable rate
is set by the idiots in Congress, and has remained unchanged at 14 cents per
mile for a dog’s age, with only a brief temporary increase for charitable
travel related to Hurricane Katrina recovery.