Want to know how much you can write off for using your car for business? Here’s the latest rate from the IRS…
Beginning on Jan. 1, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
- 56 cents per mile for business miles driven
- 23.5 cents per mile driven for medical or moving purposes
- 14 cents per mile driven in service of charitable organizations
Remember to keep a log of where you went, for what purpose and the mileage in case (*gasp*) you are ever audited!
Here’s to your creative success and business write-offs!
– Tara Reed