If you travel for business, it is very important to track and document your mileage including the business purpose of your trip. Last year (2014) we provided an update on IRS mileage rates and included a sample mileage log and reimbursement form (if your employer allows such reimbursement). For your convenience we’ve done so again here .
Going into 2015 the IRS has set the standard mileage rate for business use of an owned or leased vehicle at 57.5¢ per mile, a 1.5¢ increase over last year’s rate. The mileage rate for the use of an automobile to get medical care or in connection with a move that qualifies for the moving expense deduction decreased .5¢ to 23¢ a mile. Mileage rates for qualified charitable travel remains at 14¢ per mile.
Stephen Osborne, CPA
Certified Public Accountant