IRS Standard Mileage-Rate Deduction for 2013

The Internal Revenue Service (IRS) has set the standard business-mileage deduction at 56.5 cents a mile for 2013. The rate is one cent higher than in 2012. The mileage calculation includes the cost of fuel, along with other vehicle fixed and variable operating expenses, such as depreciation, insurance, tires, etc. Companies and individuals who use their automobiles (including vans, pickups and panel trucks) for business have the option of using the standard rate in lieu of keeping records of their actual expenses.

For more details, contact Stuart Gosswein at