TAX TIP: Business owners claiming mileage, please go ahead and take a picture of your odometer now. This represents some proof of mileage in addition to oil change receipts and your mileage logs.
Effective January 1, 2020, the standard mileage rates are as follows:
- Business use of auto: 57.5 cents per mile may be deducted if an auto is used for business purposes (unreimbursed employee travel expenses are not currently deductible as miscellaneous itemized deductions)
- Charitable use of auto: 14 cents per mile may be deducted if an auto is used to provide services to a charitable organization
- Medical use of auto: 17 cents per mile may be deducted if an auto is used to obtain medical care (or for other deductible medical reasons)
- Moving expense: 17 cents per mile may be deducted if an auto is used by a member of the Armed Forces on active duty to move pursuant to a military order to a permanent change of station (the deduction for moving expenses is not currently available for other taxpayers)
You can read IRS Notice 2020-05 here.