The Internal Revenue Service (IRS) has announced the standard mileage rates for 2022 which will remain at 56 cents per mile driven for business use 16 cents per mile driven for medical or moving purposes and 14 cents per mile driven in service of charitable organizations.
The new standard mileage rates for business medical and moving purposes will apply to all miles driven beginning January 1 2022. The charitable mileage rate is set by statute and will not change.
The IRS mileage rates are used to calculate the deductible costs of operating a vehicle for business medical moving and charitable purposes. The rates are based on an annual study of the fixed and variable costs of operating a vehicle. The standard mileage rate for business use is calculated by adding the fixed and variable costs and then dividing by the number of miles driven.
The fixed and variable costs used to calculate the 2022 business mileage rate of 56 cents per mile are:
Fixed costs:
Depreciation and lease payments: $0.18 per mile
Insurance: $0.16 per mile
Gasoline and oil: $0.13 per mile
Tires: $0.02 per mile
Variable costs:
Repairs and maintenance: $0.11 per mile
License and registration: $0.03 per mile
The standard mileage rates for medical and moving purposes are based on the variable costs of operating a vehicle. The variable costs used to calculate the 2022 standard mileage rate of 16 cents per mile are:
Gasoline and oil: $0.13 per mile
Repairs and maintenance: $0.11 per mile
The standard mileage rate for charitable purposes is set by statute and remains at 14 cents per mile.
To claim the standard mileage deduction you must keep records of your miles driven and your expenses. You can use a mileage log or an app to track your mileage. You will also need to keep receipts for your expenses.
If you use the standard mileage rates you cannot deduct your actual vehicle expenses. You can choose to deduct your actual vehicle expenses or use the standard mileage rates but you cannot deduct both.
You can find more information about the standard mileage rates on the IRS website.
What is the standard IRS mileage rate for 2022?
Answer: The standard mileage rate for 2022 is 56 cents per mile.
How is the standard mileage rate determined?
Answer: The standard mileage rate is set by the IRS and is based on an annual study of the fixed and variable costs of operating a vehicle.
Can the standard mileage rate be used for all business travel?
Answer: No.
The standard mileage rate can only be used for business travel that is not already covered by another method such as the actual expense method.
What is the standard mileage rate for medical or moving purposes?
Answer: The standard mileage rate for medical or moving purposes is 16 cents per mile.
What is the standard mileage rate for charitable purposes?
Answer: The standard mileage rate for charitable purposes is 14 cents per mile.
How do you calculate the standard mileage deduction?
Answer: You calculate the standard mileage deduction by multiplying your total business miles driven by the applicable mileage rate.
What records do you need to keep in order to claim the standard mileage deduction?
Answer: You need to keep records of your total miles driven the purpose of each trip and the date of each trip.
Can the standard mileage deduction be taken for travel between home and work?
Answer: No.
The standard mileage deduction cannot be taken for travel between home and work even if the travel is for business purposes.
Can the standard mileage deduction be taken for travel to multiple destinations in one day?
Answer: Yes.
The standard mileage deduction can be taken for travel to multiple destinations in one day as long as the travel is for business purposes.
Can the standard mileage deduction be taken for travel that is not directly related to business?
Answer: No.
The standard mileage deduction can only be taken for travel that is directly related to business.
Can the standard mileage deduction be taken for travel that is also deductible under the actual expense method?
Answer: No.
The standard mileage deduction cannot be taken for travel that is also deductible under the actual expense method.
Can the standard mileage deduction be taken for travel that is not deductible under the actual expense method?
Answer: Yes.
The standard mileage deduction can be taken for travel that is not deductible under the actual expense method.
What is the standard mileage rate for travel in a personal vehicle for 2017?
Answer: The standard mileage rate for travel in a personal vehicle for 2017 is 53.
5 cents per mile.
What is the standard mileage rate for travel in a personal vehicle for 2018?
Answer: The standard mileage rate for travel in a personal vehicle for 2018 is 54.
5 cents per mile.
What is the standard mileage rate for travel in a personal vehicle for 2019?
Answer: The standard mileage rate for travel in a personal vehicle for 2019 is 58 cents per mile.
