IRS Mileage Rates for 2014
The Internal Revenue Service has issued the 2014 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, 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
The business, medical, and moving expense rates decrease one-half cent from the 2013 rates. The charitable rate is based on statute.
The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs.
Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.
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This Thing Called Time
Honestly, it’s just crazy! The older I get, the faster life seems to run. I thought that it would slow down a little as the kids got older. I figured that not having to run after little ones would afford me a little more time and freedom. Although this is true in some respects, it just seems that life has picked up a velocity that keeps churning, spinning and pushing me to the brink of exhaustion.
The beautiful balmy breeze in South Florida and brilliant sunshine taunt me as I yearn to spend a lazy day at the beach. Scratch that. Did I say “day”? I really meant at least a month. Heck, I’ll take a day-who am I kidding? I KNOW I’m not the only one who feels this way, right?
Several years ago I asked a friend’s mother a question as I pondered this same dilemma that was plaguing me back then. She must have been in her mid 70’s when I asked her a series of probing questions concerning this warp speed that my life had taken on.
“WHEN-Please tell me when this will slow down? Will it slow down? Does it ever slow down?” I’ll never forget her response. She looked at me through her thick glasses and said, “Oh yes, dear. It does slow down. After the grandchildren are all grown up, it starts to slow down a bit.”
REALLY?
Do You Have To File A Tax Return This Year?
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