Standard mileage rates for 2015


In Notice 2014-79, the IRS gave 2015 standard mileage rates for calculating the deductible costs of operating a vehicle. For business use of a car, van, pickup truck, or panel truck, the 2015 rate is 57.5 cents per mile, slightly higher than the 56 cent rate that applied for 2014. The portion of the business standard mileage rate that is treated as depreciation is 24 cents per mile for 2015, up 2 cents from the 22-cent rate in effect for 2014. Driving for medical or moving purposes may be deducted at 23 cents per mile, which is one-half cent lower than for 2014. The rate for service to a charitable organization is unchanged, set by statute (Sec. 170(i)) at 14 cents a mile

SPONSORED REPORT

In focus: Payroll

Providing payroll services that comply with ever-changing regulations and meet evolving employee and employer demands is no easy task. Paychex's Tom Hammond discusses common payroll considerations for CPA firms.

PODCAST

A closer look at threats to CPA licensure

Legislation in states around the country could put CPA licensure in danger. This episode examines what practitioners need to know to help ensure the profession is protected.