# IRS Announces 2015 Mileage Rates - 57.5 Cents



## grams777 (Jun 13, 2014)

*IRS Announces 2015 Mileage Rates*

Gas prices may be down, but business mileage rates-how much you can deduct if you use a car for business purposes-are up for 2015. The Internal Revenue Service announced standard mileage rates for 2015 today for taxpayers to use in calculating the deductible costs of using a car for business, charitable, medical or moving purposes.

In Notice 2014-79, the IRS lists the standard mileage rates, effective as of Jan. 1, 2015:
Business use: 57.5 cents a mile
...
The business use rates are up from 56 cents a mile in 2014.

http://www.forbes.com/sites/ashleaebeling/2014/12/10/irs-announces-2015-mileage-rates/


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## grUBBER (Sep 11, 2014)

Cars get more efficient and deductions get higher. 
In this country, if you've got a business or a non-profit, or a passive investor, you get to enjoy all kind of tax write offs, but if you're an above average paid employee, you're screwed.


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## LookyLou (Apr 28, 2014)

Nice. My actual operating costs have gone down about .06 - .07 cents per mile with the lower gas prices over the last 3-4 months.


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## troubleinrivercity (Jul 27, 2014)

Will be looking forward to the March/April poll “Do you plan on paying your self-employment tax on Uber income?”.

Some of us are undoubtedly exempt due to not actually making profit from Uber.


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## My Cabby (Dec 2, 2014)

I have been filing income taxi for 4 years. Some get confused on deduction. They think they can deduct their expenses plus take the IRS deduction millage When a driver files income tax beware that you can only select one of two options. You can deduct your costs individually. Gas, Maintenance, booking fees, lease, depreciation, insurance, cleaning, tolls, etc. Or you can choose to deduct the millage. Can't do both. I have had to deduct individual expenses because they come out more deduction than the millage expense. Just sayin'


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## Casuale Haberdasher (Dec 7, 2014)

My Cabby said:


> I have been filing income taxi for 4 years. Some get confused on deduction. They think they can deduct their expenses plus take the IRS deduction millage When a driver files income tax beware that you can only select one of two options. You can deduct your costs individually. Gas, Maintenance, booking fees, lease, depreciation, insurance, cleaning, tolls, etc. Or you can choose to deduct the millage. Can't do both. I have had to deduct individual expenses because they come out more deduction than the millage expense. Just
> 
> POST # 5 / MYCABBY! : Thanks MC! Happy
> New Year, BTW.


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## Oc_DriverX (Apr 29, 2014)

The IRS has updated the standard mileage rates for 2015.
http://www.irs.gov/uac/Newsroom/New...-Now-Available;-Business-Rate-to-Rise-in-2015

"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"


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## Moofish (Jun 13, 2014)

So for 2014's taxes we are still using the $0.56, right? Not the new $0.575 which won't be used until next year.


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## Oc_DriverX (Apr 29, 2014)

Moofish said:


> So for 2014's taxes we are still using the $0.56, right? Not the new $0.575 which won't be used until next year.


I believe that is correct. $0.56/mile for all of 2014.


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## UberFizzle (Sep 16, 2014)

Oc_DriverX said:


> I believe that is correct. $0.56/mile for all of 2014.


Like others have already mentioned, be careful not to double count your expenses. The 2014 $0.56/mile rate includes depreciation, insurance, repairs, tires, maintenance, gas and oil. So, you won't be able to say that you drove 20,000 miles for Uber at $0.56/mile, then further deduct the cost of gas, tires, oil changes, and so on. It's either the preset $0.56/mile rate, or your actual expenses. "Taxpayers always have the option of claiming deductions based on the actual costs of using a vehicle rather than the standard mileage rates."


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## UberFizzle (Sep 16, 2014)

My Cabby said:


> I have been filing income taxi for 4 years. Some get confused on deduction. They think they can deduct their expenses plus take the IRS deduction millage When a driver files income tax beware that you can only select one of two options. You can deduct your costs individually. Gas, Maintenance, booking fees, lease, depreciation, insurance, cleaning, tolls, etc. Or you can choose to deduct the millage. Can't do both. I have had to deduct individual expenses because they come out more deduction than the millage expense. Just sayin'


If you choose the IRS's rate, and you come out in the negative (your expenses were more than your income), would you still calculate your actual expenses? For example, if you spent $28,000 per the IRS rate ($0.56/mile * 50K miles), but you only made $23K for the year (so, income < expenses), would you still calculate your actual expenses? If I understand it correctly, you simply won't owe any taxes if this is the case. Calculating your actual expenses won't benefit you because the government isn't going to give you money.


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## Long time Nyc cab driver (Dec 12, 2014)

UberFizzle said:


> If you choose the IRS's rate, and you come out in the negative (your expenses were more than your income), would you still calculate your actual expenses? For example, if you spent $28,000 per the IRS rate ($0.56/mile * 50K miles), but you only made $23K for the year (so, income < expenses), would you still calculate your actual expenses? If I understand it correctly, you simply won't owe any taxes if this is the case. Calculating your actual expenses won't benefit you because the government isn't going to give you money.


Try not to lose so much.


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