No, not Robert Frost’s classic poem “Stopping By Woods”, but rather IRS letting us know what the standard mileage rates will be for calendar 2014.
Briefly, beginning on Jan. 1, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
- 56 cents per mile for business miles driven
- 23.5 cents per mile driven for medical or moving purposes
- 14 cents per mile driven in service of charitable organizations
Remember the Section 274 standard for substantiation of those business miles. And if you’re keeping a logbook for business, you might as well log in the medical, moving and charitables as well.
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