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IRS business vehicle mileage deductible rates (2010)

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This entry includes information pertaining to a highly technical subject. If you can help make it simpler, please do so. Also, remember to seek advice from your professional financial and legal advisors on financial, accounting and tax issues. See also: General disclaimer.

Starting on Jan. 1, 2010[1], the standard mileage deductible rates allowed by the US Internal Revenue Service for the use of a car (also vans, pickups or panel trucks) are:

  • 50 cents per mile for business miles driven
  • 16.5 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service of charitable organizations

The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile as determined by an IRS contracted study by the company, Runzheimer International.

According to the IRS, a taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle. In addition, the business standard mileage rate cannot be used for any vehicle used for hire or for more than four vehicles used simultaneously.

References

  1. ↑ Press Release: IRS Announces 2010 Standard Mileage Rates

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