IRS mileage tax deduction 2010by Roger Chartier
IRS mileage allowance for 2010.
Beginning on Jan. 1, 2010, the standard mileage rates for the use of a car, also vans, pickups or panel trucks.
For this year there is an allowance REDUCTION!!! See the 2009 mileage deductions.


This article is about the 2010 mileage tax deductions

You do have to keep mileage records for the IRS tax prep and differentiate between
business, personal, charity and moving miles.
You can take a business vehicle tax deduction with receipts for all expenses or mileage deduction.

For 2010 business miles driven at $0.50 per mile (50 cents per mile)
This is down 5 cents from 2009.

For 2010 charity miles driven are @ $0.14 per mile. Same as 2009

For 2010 moving and medical miles driven are @ $0.16.5 per mile.
This is down from the $.024 of 2009

The charity, medical and moving mileage deductions are not as much of an advantage.
You can do straight deductions of all expenses repairs fuel etc. or take the mileage deduction. So let's focus on business here a bit.

The business miles are often the best deduction and even though the
price of gas is coming down as of fall of 2008. You never know what gas prices will do.

If you have a business that logs a lot of highway
miles like I do at 50 cents per mile it still should be a better method for
Best keep track by both methods so that when tax time comes you can do the math and decide which is the better.

Keep a log book to track the odometer readings each day.

I was told how mileage was re-created for one day when they forgot to log the
difference between personal miles and business.

They went to a website that offers online maps and driving directions and mapped out the trip. You will find software programs that are very helpful for tax prep and many
people use them.
I like to do all of the preliminary record keeping work and trust my accountant for the details.

Some people think that they don't need to use an accountant because the
electronic filing and tax prep software is so easy to use. I'll have to look into it because it's surely worth the effort to learn about the ease of use of the software and decide if you want to save the cost of the accountant.

Using software and e-filing is another way to save money.

  You also have the option of deducting using the percentage method whereby
you have to save all receipts for parking fees, gas, registration, repairs etc.
If you had a catastrophic year, repair wise, or had to park in a pay garage everyday that might warrant keeping all records and possibly using the  percentage method.

   Medical and moving allows a $0.16.5 per mile deduction. For some it is negligible.

Some people have to travel for dialysis or chemotherapy on a
regular basis. For them it is vital that they save the money using the deduction.

The charity deduction @ $0.14 could be an issue if you did it on a regular basis but again
you have to check the numbers.

The above info can be a make it or break it situation.

If you are self-employed and just starting out in business for yourself you have to think about this right away so that your records will be accurate.
The mileage deduction amounts change every year so be sure to come to visit this site before you start every new year just to know where you will stand deduction wise.

Good Luck!

Copyright © Roger Chartier 2009 - 2010

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Notes: This is often referred to as the federal mileage rate., and answers questions about federal mileage reimbursement. Federal mileage allowance is the topic. Someone spelled it mileage. You ask, what is the federal irs mileage rate standard or IRS mileage rate reimbursement? Read the above. You do have to keep an irs mileage log.

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