• Skip to primary navigation
  • Skip to main content
  • Skip to footer

Windham Region Chamber of Commerce

  • Home
  • News
    • Chamber News
    • Member News
  • Community Programs
    • Eastern CT Veterans Community Center
      • Resources
      • Survivors of Suicide Loss
      • Afghanistan: Let’s Talk About It
  • Business Resources
    • RE-OPENING CT
    • COVID-19
    • Business Resource Center
    • Windham Region Business Directory
  • Upcoming Events
  • Member Center
    • Member Login
    • Member Directory
    • Member to Member Deals
    • Chamber Alliance Networking (CAN) Coffee Hour
  • Join
    • Benefits Of Membership
  • Staycations
    • Step Back in Time
    • Shopping Staycation
    • The Great Outdoors
  • About Us
    • 2019 Annual Report
    • 2020 Board of Directors
    • Contact Us

Dec 17, 2014 by Windham Chamber

New Standard Mileage Rates Now Available; Business Rate to Rise in 2015

WASHINGTON — The Internal Revenue Service today issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck will be:

• 57.5 cents per mile for business miles driven, up from 56 cents in 2014

• 23 cents per mile driven for medical or moving purposes, down half a cent from 2014

• 14 cents per mile driven in service of charitable organizations

The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile, including depreciation, insurance, repairs, tires, maintenance, gas and oil. The rate for medical and moving purposes is based on the variable costs, such as gas and oil. The charitable rate is set by law.

Taxpayers always have the option of claiming deductions based on the actual costs of using a vehicle rather than the standard mileage rates.

A taxpayer may not use the business standard mileage rate for a vehicle after claiming accelerated depreciation, including the Section 179 expense deduction, on that vehicle. Likewise, the standard rate is not available to fleet owners (more than four vehicles used simultaneously). Details on these and other special rules are in Revenue Procedure 2010-51, the instructions to Form 1040 and various online IRS publications including Publication 17, Your Federal Income Tax.

Besides the standard mileage rates, Notice 2014-79, posted today on IRS.gov, also includes the basis reduction amounts for those choosing the business standard mileage rate, as well as the maximum standard automobile cost   that may be used in computing an allowance under  a fixed and variable rate plan.

Filed Under: Member News

Footer

Connect With Us

We’re conveniently located in the heart of downtown Willimantic’s business district. Call us to schedule a meeting to discuss your business needs or to meet with our Business Resource Center.

Windham Region Chamber of Commerce
1320 Main St., Suite 27
Willimantic CT 06226
Phone: (860) 428-7739

info@windhamchamber.com

Subscribe to our newsletter!

Sign up below to receive weekly news and events from the Chamber!

Select list(s) to subscribe to


By submitting this form, you are consenting to receive marketing emails from: The Chamber of Commerce, Inc, Windham Region, 1010 Main Street, Willimantic, CT, 06226, https://www.windhamchamber.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts

  • SLICE OF LIFE Living History Event in Windham, CT
  • STANDARD MILEAGE RATES FOR 2022 & OTHER MILEAGE TAX INFO
  • DID YOU KEEP ANY OF YOUR EMPLOYEES THROUGHOUT THE PANDEMIC? YOU NEED TO READ THIS!
  • DO YOU OWE ANY CT TAXES FROM 2020 OR BEFORE? THERE IS HELP
  • MAPLE FESTIVAL IS MARCH 19-20!!

Categories

Copyright © 2022 · The Chamber of Commerce, Inc. Windham Region