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Article Author:

2012 Standard Mileage Rates

On December 9, 2011 the IRS released the standard business, deductible medical, and moving mileage rates effective January 1, 2012. The rate for business miles has remained unchanged since the 2011 mid-year adjustment. The medical and moving rate has decreased by .5 cents.   

Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The optional business standard mileage rate is used in lieu of tracking actual costs. This rate is also used as a benchmark by the federal government and many businesses to reimburse their employees for mileage.

New rates Beginning January 1, 2012:

Standard Business Rate	55.5 cents per mile
Medical and Moving Rate	23 cents per mile
Charitable Rate	14 cents per mile

Please contact Kim Haumann at khaumann@BlackmanKallick.com or 312-980-3249 or your Blackman Kallick advisor with any questions.

This publication is part of Blackman Kallick’s marketing of professional services, and is not written tax advice directed at the specific facts and circumstances of any person and/or entity. Contents of this publication are of a general nature, and you should not act on this information without obtaining professional advice from your business advisor that is appropriately tailored to your individual needs and circumstances. This written advice is not intended or written to be used, and cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code.