Standard Mileage Rates

News & Analysis as of

End of 2014 Tax Law Changes

ABLE Accounts: A new law titled “Achieving a Better Life Experience” (ABLE) allows the establishment of tax-free accounts that can be used to save for disability-related expenses. ABLE accounts can be created by individuals...more

IRS Announces New Standard Mileage Rates

For those who are frequently on the road for work, the costs of operating and maintaining a vehicle can represent a substantial business expense. In computing the deductible costs of operating a vehicle for business, a...more

New Mileage Rates for 2015

Oil prices may be going down, but reimbursement rates are going up. On January 1, 2015, the IRS standard mileage deduction rate increased from 56¢ to 57.5¢ per mile for business miles driven. ...more

2015 Standard Mileage Rates

The IRS has issued the “optional standard mileage rates” for 2015 used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. (IR-2014-114, Dec. 10, 2014)...more

Business Law Newsletter - March 2013

In This Issue: - Business Torts in Virginia - Virginia Non-Competition Law After Home Paramount - 2013 Mileage Rates Alert - Excerpt from 2013 Mileage Rates Alert: The Internal Revenue Service has...more

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