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2012 Standard Mileage Rates Mostly the Same
- Published on Mon | 12 Dec 2011
The Internal Revenue Service announced the standard mileage rates to begin on January 1, 2012. The rates are used to calculate the amount that will be deducted for operating an automobile, whether for business, charity, medical or moving.
The business mileage rate will remain the same as when first implemented back in July of this year. The medical and moving rate has been reduced by 5 cents.
For the use of a car (vans, pick-ups or panel truck included), the standard mileage rates per mile are as follows:
- 55.5 cents for business miles
- 23 cents for medical purposes
- 14 cents for charitable services