Mileage Rates to Use for 2005 Income Tax Returns

On an earlier post I said I would post the mileage rates to use when filing your 2005 Federal Income Tax Returns. As promised here they are! Please take note that there are special rates for Hurricane Katrina charitable miles.

Business Miles
January-August 2005 (first 8 months): 40.5 cents per mile
September-December 2005 (last 4 months): 48.5 cents per mile

Medical or Moving Miles
January-August 2005 (first 8 months): 15 cents per mile
September-December 2005 (last 4 months): 22 cents per mile

Charitable Miles
14 cents per mile, with the exception of charitable miles relating to Hurricane Katrina.

Special rates were approved by Congress for charitable miles driven for charities providing relief efforts to Hurricane Katrina victims as follows.

From August 25 - August 31, 2005: 29 cents for deduction purposes and 40.5 cents for reimbursement purposes.

For September-December 2005, the rates are: 34 cents for deductions and 48.5 cents for reimbursements.

As always, if you have any questions regarding these rates or when to use them, please feel free to contact us or check with the IRS.