Agents Rjoice!: Gas Prices Go Down While Mileage Alloance Goes up!
Yea for us real estate agents who use our cars for business-which is almost every one-will be getting a double bonus this year. Not only are gas prices expected to keep dropping, but the amount you can wrtie off on your taxes is GOING UP!
The IRS's standard mileage rates, beginning Jan 1, 2015, are:
* 57.5 cents per mile for business miles driven (up from 56 cents in 2014)
* 23 cents per mile drive for medical or moving purposes(down half a cent from 2014)
What great news for us Realtors!!
Keep good records and a milage log as well in your car. Have an awesome day!
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