IRS Standard Mileage Rates Will Increase in 2013

November 21, 2012
By Michael Smith on November 21, 2012 4:00 PM |

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The Internal Revenue Service has announced the following standard mileage rates used to calculate income tax deductions for business travel expenses and for travel expenses incurred while serving charitable organizations.

  • Business, $0.565 per mile
  • Charitable service, $0.14 per mile

These rates, which are one cent per mile higher than the standard rates for 2012, take effect on January 1, 2013.

If your small business or nonprofit organization requires the practical legal advice and the personal service of an experienced attorney, please call the Business Law Division of Smith Rayl Law Office, LLC in Fishers, Indiana at 317-576-8542 or email us at mike@michaelsmithlaw.com.