The IRS recently announced the standard mileage rates for 2014.  The rates will actually decrease by .5 cents per mile for both business use and medical and moving mileage.

The new standard mileage rate for business for 2014 will be 56 cents per mile.  The 2014 rate for moving and medical mileage will be 23.5 cents per mile.

This is also a good opportunity to remind everyone of the importance of keeping a mileage log.  If your mileage deduction ever comes under audit, the IRS will expect to see a log of the miles driven and the purpose for the miles.  You can use a simple notepad in your car, or one of a variety of mobile apps to help you log all the miles you drive and make your log easier to complete.