Increased Tax Deduction for Volunteer Drivers Using Personal Vehicles.
This bill significantly raises the amount volunteers can deduct on their taxes for using their personal vehicles for charitable purposes. The mileage rate for transporting people or property for charity will be equalized with the higher rate used for business travel. This change aims to reduce the financial burden on individuals supporting non-profit organizations through transportation.
Key points
Tax Deduction Increase: The mileage rate for volunteers transporting people or property for charity will match the standard business travel rate.
Financial Benefit: Volunteers assisting charitable organizations will be able to deduct substantially more vehicle operating costs on their tax returns.
The new rules apply starting with the 2025 tax year.
Status:
Introduced
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