Revised Standard Mileage Rates for 2014
The Internal Revenue Service announced an increase in the optional standard mileage rates for 2014. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The IRS normally updates the mileage rates once a year in the fall for the next calendar year.
The College has adopted the optional standard mileage rates for the use of a car (also vans, pickups or panel trucks) as follows:
Last Updated: 1/2/14