The IRS announced that standard mileage rates for use of a vehicle will increase slightly. With gas prices dropping considerably in the last few months, this is great news for business owners.
For business use of a car, van, pickup truck, or panel truck, the 2015 rate will be 57.5 cents per mile, an increase from 56 cents per mile that was in effect for 2014. Driving for medical or moving purposes may be deducted at 23 cents per mile, one-half cent lower than for 2014.
The rate for service to a charitable organization is unchanged.