A Note on Mileage Rate Increases and Tracking Your Mileage
Updated: Jan 8, 2019
The IRS recently announced the standard mileage rates for 2019. For business travel using a passenger vehicle, the standard rate for will be 58 cents a mile - up from 54 cents a mile in 2018. The rate for medical care will be 20 cents a mile and for charitable volunteering is 14 cents a mile.
If you drive your own car for any of these purposes, it is important to track your mileage, both to make it easier to calculate the deduction and to have evidence to support your deductions in the event that your return is examined by the IRS. We recommend use of an app such as MileIQ to track your drives if you are frequently making drives that you would like to receive a tax deduction for. Contact us if you have any questions about what driving you can deduct and how to get a benefit for these costs.