Most optional standard mileage rates used to calculate the deductible costs of operating an automobile for various purposes have risen in 2022. As of Jan. 1, 2022, the standard mileage rate for vehicles (cars, vans, pickups and panel trucks) is 58.5 cents per mile driven for business (up 2.5 cents per mile from 2021). The rate per mile driven for medical or (for certain military members) moving purposes will be 18 cents (up 2 cents per mile from 2021). The per mile rate driven for charitable purposes will remain 14 cents per mile. Taxpayers can also use the actual costs of using their vehicles to calculate the deductible amount. Contact us with questions. #mileage #automobile #taxes #car

Maximizing Tax Savings Through Comprehensive Management Approaches
No one likes feeling stressed about money, and tax season often brings that stress to the forefront. Understanding how to manage taxes can help. Smart tax management isn't just for accountants; it's a tool everyone can use to build savings. Imagine not having to...
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