Standard Mileage Rates

Paying estimated taxes this year? Keep the following about standard mileage rates in mind.

According to the IRS, the standard mileage rate for the cost of operating your car is:

• 55 cents a mile for all business miles driven
• 24 cents a mile for the use of your car for medical reasons
• 24 cents a mile for the use of your car for a deductable move
• 14 cents a mile for the use of your car for charitable reasons