John Bullis

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December 11, 2012
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John Bullis: Business standard mileage rate for 2013 increased

The Internal Revenue Service recently announced an increase in the optional business standard mileage reimbursement rate. For 2013, the business rate is 56.5 cents. That is an increase of one cent!

While that sounds like a lot, many folks find their actual driving costs are greater than the automatic rate IRS allows for business driving.

Keeping track of business miles driven is required for the mileage rate and for actual expenses. The business miles of each vehicle are divided by the total miles in the calendar year for actual expenses. That ratio is then applied to the various expenses of …

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The Nevada Appeal Updated Dec 11, 2012 02:42AM Published Dec 11, 2012 02:39AM Copyright 2012 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.