54. 5 cents per mile for business-related mileage 18 cents per mile traveled for medical reasons or moving purposes 14 cents per mile traveled when donating to or working for charitable organizations
Note that you will only receive a federal tax benefit for medical deductions if you itemize your deductions and your total medical expenses, including medical mileage, are greater than the medical deduction threshold for that year.
You will only receive a federal tax benefit for charitable mileage if you itemize your deductions.
The easiest way to do this is to write down the starting mileage at the original destination, the ending mileage at the travel destination, and the addresses of the locations you were traveling to and from, as well as the purpose of the trip business, charity, medical, or move. Clearly date each entry in your log book for quick access.
Some businesses will offer mileage allowances, and other types of agreements if you’re given a company car. Talk to your HR representative or the financial advisor at your office for more specific information.
If you drove 1,000 miles (1,600 km) for charity and 1,000 miles (1,600 km) for business, then you would multiply 1,000 miles (1,600 km) by 14 cents and 1,000 miles (1,600 km) by 54. 5 cents.
If you live in a state that imposes an income tax, refer to that state’s statute of limitations to determine how long you need to keep your records for.
