What Can You Deduct? IRS Gives 2022 Standard Mileage Rates

Ferrone & Associates CPAsBlog

On December 17th the IRS updated its 2022 standard mileage rates used for tax deductibles. They include cars, vans, pickup trucks, or panel trucks used for business, charity, medical, or moving (within the Armed Forces). Taxpayers have the option of using the provided standard rates or calculating their actual expenses. The 2022 rates began on January 1st.  Some rates have increased since 2021. For businesses taxpayers can claim 58.5 cents per mile. For medical usage or moving due to station changes the standard rate is now 18 cents per mile. The standard rate for charity remains the same at 14 cents per mile.