Standard Mileage Rate

This is the per mile rate that can be used in lieu of actual expenses when using a vehicle for a deductible purpose. For 2004, the cents per mile rates are: 40.5 for business use and 15.0 for moving, charity and medical use. Parking expenses can be taken in addition to the standard mileage rate. Self-employed individuals can also add the business portion of the interest expense to acquire the vehicle. For 2004, the standard rate can be used for up to four vehicles being used simultaneously.