Redpath and Company
The New GAAP Standard for Internal‑Use Software: What Has Changed and Why It Matters
Many organizations don’t think of software development as a core part of their business. But whether it’s a website redesign, a new ERP system, or...
June 10, 2022 - In recognition of recent gasoline price increases, the IRS has made a special mileage rate adjustment for the final 6 months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain other purposes.
For the final 6 months of 2022, the standard mileage rate for business travel will be 62.5 cents per mile, up 4 cents from the rate effective at the start of the year. The new rate for deductible medical or moving expenses (available for active-duty members of the military) will be 22 cents for the remainder of 2022, up 4 cents from the rate effective at the start of 2022. These new rates become effective July 1, 2022.
For more information and further updates, please refer to the IRS Mileage Increase news release.
Mileage Rate Changes
|
Purpose |
Rates 1/1 through 6/30/22 |
Rates 7/1 through 12/31/22 |
|
Business |
58.5 |
62.5 |
|
Medical/Moving |
18 |
22 |
|
Charitable |
14 |
14 |
Minnesota Tax Law Changes: What Businesses Should Know Right Now
John Kammerer, CPA: May 27, 2026
Minnesota’s recently signed omnibus tax bill (H.F. 2438) introduces several updates impacting businesses across the state. Many of these changes will...
How to Stop Construction Change Orders From Slipping Through the Cracks
Joel Newby, CPA: May 14, 2026
Scope changes can either protect your margin or quietly erode it. The difference comes down to how they’re identified, communicated, and accounted...