Industry Note:
Prepare For Mileage Rate Increase
Published on Thu Dec 06, 2012
Get ready to pay more for mileage, as the IRS is increasing business travel mileage rates to 56.5 cents per mile for business and 24 cents per mile for medical purposes, reports the American City Business Journals in Greensboro and Winston-Salem, NC. These are the IRS’s optional mileage rates, which you can use to calculate tax deductions.