IRS sets 2010 standard mileage rates

The 2010 optional standard mileage rates issued by Internal Revenue Service that are used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes have changed from last year.
Beginning Jan. 1, 2010, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
50 cents per mile for business miles driven (down from 55 cents in 2009).
16.5 cents per mile driven for medical or moving purposes (down from 24 cents in 2009).
14 cents per mile driven in service of charitable organizations (the same as 2009).
The IRS said the mileage rates for 2010 reflect generally lower transportation costs compared to a year ago.
The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs as determined by the same study.