IRS mileage rate

  • Tax forms by Flickr user bobt54

    This week is the heart of tax time. If you're like many other taxpayers or a small businessperson, right about now you're looking up the 2010 mileage rate that the IRS lets you use when deducting personal-vehicle use as a business expense. So here's the answer: The IRS mileage rate is 50 cents per mile for business miles driven during the 2010 tax year. You also get to deduct 16.5 cents per mile driven for medical or moving purposes, and 14 cents per mile for distances you drive while on charitable pursuits. But whether those rates cover your costs or not is a different question. One way to...

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