2016 Mileage AllowanceSave money on the miles you drive with your vehicle
Save money on your taxes, from driving for charity, with this fuel allowance method
Every year the IRS publishes the new amount for the deductible or allowance on fuel for your vehicle if you fall under their assigned situation.
The IRS will allow us a standard mileage rate for rendering gratuitous services to a charitable organization at the rate of 14 cents a mile for year 2016.
The IRS tells us that
A taxpayer may use the charitable standard mileage rate to compute the charitable contribution deduction for use of an automobile in rendering gratuitous services to a charitable organization
Be sure to use the Mileage Log
To keep track of the miles driven for Charity. Print out and use the Mileage Log. This keeps you on the up and up with the IRS. If you are audited they will want that info.
Record Miles When Driven
The IRS want accurate recording of the miles and they want the miles recorded when you drive them. Please, not when you are actually at the wheel. Let's say write them onto the (available here) Mileage Log after you finish the trip!
Is it worth doing?
Yes it is . Say you drive a hundred miles a week for Charity. That is $14 by the 2013 standard. At the end of a 52 week year it comes out to you saving $728.00 dollars. That helps pay for gas at least.
Here is a clip from IRS 170 RE year 2013
(i) Standard mileage rate for use of passenger automobile
For purposes of computing the deduction under this section for use of a passenger automobile, the standard mileage rate shall be 14 cents per mile.
(k) Disallowance of deductions in certain cases
For disallowance of deductions for contributions to or for the use of communist controlled organizations, see section 11(a) of the Internal Security Act of 1950 50 U.S.C. 790.
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