Return to list

When:
January 01, 2002

Who it Affects:
For taxpayers who use their personal vehicles for business purposes or for medical or job-hunting activities.
advertisement
2002 Tax Law Changes
Higher automobile expense mileage rate

The Internal Revenue Service adjusted upward the mileage rates it accepts for use of cars for business or to obtain medical care. The move reflected higher fuel prices.

For vehicles used for business purposes in 2001, the rate goes to 34.5 cents a mile, up from 32.5 cents a mile in 2000. In 2002, the rate goes to 36.5 cents a mile. In 2003, the rate drops back to 36 cents a mile.

The rate for medical transportation expenses and job-related moves jumps to 13 cents a mile from 12 cents a mile.

The rate for expenses from volunteer charity work remains unchanged at 14 cents a mile.
Related Tax Article(s): Your car, your tax shelter