2002 mileage rates. (IRS News).The 2002 optional standard mileage rates for use in computing computing - computer deductible That which may be taken away or subtracted. In taxation, an item that may be subtracted from gross income or adjusted gross income in determining taxable income (e.g., interest expenses, charitable contributions, certain taxes). costs paid or incurred in operating an automobile for business, charitable, medical or moving purposes have been announced by the IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. in Rev. Proc. 2001-54, 2001-48 IRB IRB See: Industrial Revenue Bond . All standard mileage rates will increase (except the rate for charitable use). The 2002 rates are: Business use: 36.5 cents per mile (up from 34.5 cents in 2001); Charitable use: 14 cents per mile (unchanged); Medical use: 13 cents per mile (up from 12 cents in 2001); and Moving use: 13 cents per mile (up from 12 cents in 2001). |
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