Note the new standard mileage rates for 2002
The IRS has announced the new vehicle mileage rates for 2002. These rates can be used in lieu of keeping track of actual vehicle expenses when conducting business, working for charity, moving to a new home, or traveling for medical care.
Here is how the new rates per mile compare to last year's rates:
| Expense Type | 2002 Rate | 2001 Rate |
|---|---|---|
|
|
||
| Business | 36.5 cents | 34.5 cents |
| Charity | 14.0 cents | 14.0 cents |
| Medical | 13.0 cents | 12.0 cents |
| Moving Expense | 13.0 cents | 12.0 cents |
