BC Advantage - 2005 Issue 12

IRS Announces 2006 Standard Mileage Rates

The Internal Revenue Service today issued the 2006 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.Beginning Jan. 1, 2006, the standard mileage rates for the use of a car (including vans, pickups or panel trucks) will be:44.5 cents per mile for business miles driven;18 cents per mile driven for medical or moving purposes; and 14 cents per mile driven in service of charitable organizations, other than activities related to Hurricane Katrina relief.The new rate for business miles compares to a rate of...

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