The Internal Revenue Service issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
- 57.5 cents per mile for business miles driven
- 23 cents per mile driven for medical or moving purposes
- 14 cents per mile driven in service of charitable organizations
Other Helpful Info
2014 Personal Limits/Deductions
- IRA/Roth Contribution limit $5,500
- 401k Maximum employee contribution $17,500
- 2014 Personal/Dependency Exemption $3,950
- Married Filing Joint Standard Deduction $12,400
- Head of Household Standard Deduction $9,100
- Single & Married Filing Separately Standard Deduction $6,200
2014 Estates, Gifts, & Social Security
- Annual gift, per person $14,000
- Estate Exemption Equivalent $5,340,000
- FICA Earnings Limit $117,000
