2020 & 2019 Mileage Rates

Last Updated 12/31/19.

2019 tax year -  Standard mileage rates:

*  $0.58 cents per mile for business miles

*  $0.20 cents per mile for medical miles

*  $0.14 cents per mile for charitable miles

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2020 Tax Year - Standard mileage rates

* $0.575 cents per mile for business miles

* $0.17 cents per mile for medical miles

* $0.14 cents per mile for charitable miles

Source:  www.irs.gov

It is important to note that under the Tax Cuts and Jobs Act, taxpayers cannot claim a miscellaneous itemized deduction for unreimbursed employee travel expenses.  For Federal tax purposes, the business miles would be applicable only to self-employed taxpayers.

Your individual State tax code may vary from the Internal Revenue Code.

IRS Circular 230 Notice:  This written advice was not intended to be used, and cannot be used by anyone, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax provisions.

Myra Carlisle, CPA

Myra Carlisle & Company PC

myracpa@cpataxbreaks.com

205-884-4829