L&F Tax & Bookkeeping Services
  • Home
  • Profile
  • Client Portal
  • Newsline
  • Contact
  • More
    • Tax Due Dates
    • Policies

Newsline

Our newsline provides the latest news from the IRS, due dates, reminders, and thoughtful insights on accounting and tax related topics

2023 Standard Mileage Rate Increases

12/29/2022

 
Standard mileage rates have increased for 2023.  They are as follows:
  • 65.5 cents per mile driven for business use, up 3 cents from the midyear increase setting the rate for the second half of 2022. 
  • 22 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces, consistent with the increased midyear rate set for the second half of 2022.
  • 14 cents per mile driven in service of charitable organizations; the rate is set by statute and remains unchanged from 2022. 

Reminders: 
  1. Under the Tax Cuts and Jobs Act, taxpayers can no longer claim a miscellaneous itemized deduction for unreimbursed employee travel expenses. The business rate applies to self-employed taxpayers. 
  2. Taxpayers also cannot claim a deduction for moving expenses, unless they are members of the Armed Forces on active duty moving under orders to a permanent change of station.

For more information:  2023 Standard Mileage Rates (irs.gov)

L&F Tax & Bookkeeping Services
1295 S. Kihei Road, Suite G
Kihei, HI 96753
(808) 419-7143
Fax (844) 449-1560


Comments are closed.

    Archives

    December 2024
    July 2024
    March 2024
    December 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    December 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    December 2021
    May 2021
    April 2021
    March 2021
    December 2020
    April 2020
    March 2020
    December 2019
    November 2019
    August 2019
    July 2019
    March 2019
    January 2019
    November 2018
    October 2018
    September 2018
    May 2018
    December 2017
    November 2017
    October 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    June 2015

Copyright © 2019   L&F Tax & Bookkeeping Services, LLC