2010 Standard Mileage Rates

Usually I post the new mileage rates as soon as the IRS the comes down from the mountain with the latest tablets; however, this year it was not all that exciting as we have a decrease as compared to prior years.  Here they are:

Beginning on Jan. 1, 2010, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

  • 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

Source: IRS – IR-2009-111, Dec. 3, 2009

Remember, you need to keep a contemporaneous record or log of your mileage.  If you tech saavy, there are several apps for that (like Milebug), which will (hopefully) make it easier for you.

Also, even if you are depreciating your business vehicle, you need to keep a log to prove the percentage of business usage you are using.  This is not as much an issue with large specialty vans & trucks, but with passenger vehicles it is very important.

Finally, make sure you understand the rules on a qualifying home office and commuting miles so that you can maximize your business miles.

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About Brian Germer, CPA

CPA with Parsons and Germer CPAs, LLP in Portland, OR

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