Tax Tip of the Week
900 N. Kings Highway, Cherry Hill, New Jersey 08034
856.667.4100 ·
215.563.0276 ·
Fax: 856.667.3652
Note the new standard mileage rates for 2002
For the week of
December 31, 2001
The IRS has announced the new vehicle mileage rates for 2002. These rates
can be used in lieu of keeping track of actual vehicle expenses when conducting business, working for charity,
moving to a new home, or traveling for medical care.
Here is how the new rates per mile compare to last year's rates:
Expense type
2002 rate
2001 rate
Business
36.5 cents
34.5 cents
Charity
14.0 cents
14.0 cents
Medical
13.0 cents
12.0 cents
Moving expense
13.0 cents
12.0 cents
If you have tax questions, give us a call. We are here to see that you pay no
more tax than the law requires.
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tax tips.
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and current tax information.
The information contained in this site is of a general nature and should not be acted upon in your specific situation
without further details and/or professional assistance.
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