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

Understanding Tax Management to Keep More of Your Money
Understanding how to manage taxes is key to keeping more of your hard-earned money. Taxes are a part of life, but with the right strategies, you can minimize their impact on your finances. Smart tax management involves looking at your financial responsibilities and...
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