By Roger Chartier:

Medical Mileage

What is the IRS medical mileage allowance for 2014? It is down from last year!

The IRS medical mileage deduction for 2014 is $0.23.5 cents per mile.

I refer you to the 2013 Mileage Allowance for 2013 Information.

Here is another link for 2013 mileage deductions

Each year it has been about less than half of the allowance deduction for business miles.

An important consideration is using the health insurance plan payment instead of the deduction for the miles you drove. Some health insurance companies will pay you for those miles driven at an often better rate than the IRS will allow you to take a deduction.

Some miles could be paid for by your insurance company

And the other medical miles can still be deducted from your tax bill. Keep track of the trips for both and keep records pertaining to each trip.

Even though it is a small amount of money it adds up and you should take advantage of every deduction that you can.

Miles driven have to be recorded at the time that they are driven. Although, not while driving the car.

You should print the free mileage log on this site.

The Internal Revenue Service will be concerned about the accuracy of these records.

The IRS won't let you just guess and fill it all in at the end of the year they want it to be exact.

Consider a trip from a small town to a bigger city for specialized treatment once a week.

If the medical facility is 50 miles from home you have to drive back as well, so it is a 100 mile trip.

The medical mileage rate allowance would give you a worthwhile deduction per trip.

If you make the trip once a week for 10 weeks, you could take a ten times larger medical mileage deduction.

Again use the mileage log. You can also claim the miles driven to pick up a prescription.

Also there is the standard deduction of $6,100 for the year 2013.

Check on the Standard deduction for the year you are filing for.

That might be a better deal than taking the mileage allowance/deduction form the IRS on your taxes.

 

 

 

disclaimer