What are the standard mileage rates for 2000, 2001, and 2002?
For 2000, the standard mileage rate is 32.5 cents per mile for all business miles. The rate for moving or medical reasons is 10 cents a mile. The rate for travel for charitable volunteer work is 14 cents a mile.
For 2001, the standard mileage rate for all business miles is increased to 34.5 cents per mile per Revenue Procedure 2000-48. The standard mileage rate for moving or medical reasons is increased to 12 cents a mile. The rate for travel for charitable volunteer work remains at 14 cents a mile.
For 2002, the standard mileage rate for the cost of operating your car, van, pickup, or panel truck is increased to 36 1/2 cents a mile for all business miles. For more information, refer to Tax Topic 510, Business Use of Car, and Publication 463 (PDF), Travel, Entertainment, and Gift Expenses.
References:
If you lease a vehicle, can you deduct the cost of the lease payments plus the standard mileage rate?
No, if you lease a car you use in business, you may use either the standard mileage rate or claim actual expenses, which would include lease payments. You cannot use both the standard mileage rate and the lease payments.
References:
Tax Topics & FAQs | 2002 Tax Year Archives | Tax Help Archives | Home
