2012 Standard Mileage Rates
Posted on Wednesday, December 28, 2011 Share
The IRS has released the standard mileage rates for 2012. Beginning on January 1, 2012 mileage rates are as follows:
- 55.5 cents per mile for business
- 23 cents per mile for medical or moving purposes
- 14 cents per mile for charitable purposes
The mileage rate for business and charitable purposes was not changed from the last update that took place on July 1, 2011. The medical and moving rate decreased .5 cents.
Posted by: Carrie Minnich, CPA
Posted in Mission Minded Nonprofits
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