As a mobile home park owner or manager, the miles you drive visiting your properties are valuable tax deductions. The IRS has set the 2024 standard mileage rates that apply to your business travel.

2024 Mileage Rates:

For the current tax year:

• Business driving: 67 cents per mile (increased from 65.5 cents)
• Medical appointments: 21 cents per mile
• Charity volunteer work: 14 cents per mile

These rates work for any vehicle type – gas, diesel, hybrid, or electric.

Common Business Miles for MHP Owners:

You can deduct mileage when driving to and from your mobile home parks for:

• Property inspections and walkthroughs
• Meeting with prospective residents
• Handling maintenance issues or meeting contractors
• Collecting rent or addressing tenant concerns
• Attending to emergency repairs
• Meeting with park managers or staff

Example Scenario:

Let’s say you own three manufactured housing communities in different parts of the state. Your home office is your tax home base. You drive 45 miles to Park A for a morning inspection, then 30 miles to Park B for a tenant meeting, then 50 miles back home. That’s 125 business miles × $0.67 = $83.75 in deductible mileage for that day alone. Over a year, these trips add up to substantial deductions.

Tracking Your Miles:

Keep a detailed mileage log showing the date, destination, business purpose, and miles driven. Many park owners use smartphone apps or simple spreadsheets to track this throughout the year.

Standard Rate vs. Actual Expenses:

You can either use the standard mileage rate or track actual vehicle costs (gas, repairs, insurance, depreciation). Most find the standard rate simpler. Just remember: if you want the flexibility to choose between methods in future years, you need to use the standard mileage rate in the first year you use that vehicle for business.

Tax Law Notes:

The standard mileage method must be elected in your first year of business use for that vehicle. If you lease a vehicle and choose the standard rate, you must continue using it for the entire lease period.