Driving That’s Tax Deductible: Keep Track of Your Mileage

Liberty Tax — Wed, 27 May 2009 19:26:22 GMT

Current revision posted to Tax Tips by Liberty Tax on 5/27/2009 3:26:22 PM

Driving That’s Tax Deductible: Keep Track of Your Mileage

Filed under: business mileagetax deductible, business charitable mileage, medical or moving mileage, charitable mileage tax deductible

With gas prices headed up again, it makes even more sense to be sure you’re taking advantage of all tax deductible mileage advantages. The miles you drive for some business, medical, charitable, moving, and educational purposes are deductible. Good recordkeeping practices are required to document your deductible mileage, and separate it from commuting and personal mileage. Be sure to document this mileage by keeping a log or other written record. The IRS has released these mileage deductions for 2009: <o:p></o:p>

<o:p> </o:p>

Business mileage: 55 cents per mile. Students who are taking courses that are required by their employer, or are work-related, may also deduct this mileage at the business mileage rate.

<o:p> </o:p>

Medical or moving mileage: 24 cents per mile. The deductible amount for mileage during a move and for medical mileage is 24 cents per mile. Medical miles can be claimed for miles driven to and from the doctor or dentist, and to and from a pharmacy to pick up a prescription.

<o:p> </o:p>

Charitable mileage: stays at 14 cents per mile: If you volunteer for a charitable or non-profit organization, your mileage is deductible to and from meetings and functions.

Driving That’s Tax Deductible: Keep Track of Your Mileage

Liberty Tax — Wed, 27 May 2009 19:25:26 GMT
Revision 1 posted to Tax Tips by Liberty Tax on 5/27/2009 3:25:26 PM

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With gas prices headed up again, it makes even more sense to be sure you’re taking advantage of all tax deductible mileage advantages. The miles you drive for some business, medical, charitable, moving, and educational purposes are deductible. Good recordkeeping practices are required to document your deductible mileage, and separate it from commuting and personal mileage. Be sure to document this mileage by keeping a log or other written record. The IRS has released these mileage deductions for 2009: <o:p></o:p>

<o:p> </o:p>

Business mileage: 55 cents per mile. Students who are taking courses that are required by their employer, or are work-related, may also deduct this mileage at the business mileage rate.

<o:p> </o:p>

Medical or moving mileage: 24 cents per mile. The deductible amount for mileage during a move and for medical mileage is 24 cents per mile. Medical miles can be claimed for miles driven to and from the doctor or dentist, and to and from a pharmacy to pick up a prescription.

<o:p> </o:p>

Charitable mileage: stays at 14 cents per mile: If you volunteer for a charitable or non-profit organization, your mileage is deductible to and from meetings and functions.