Annual Tax Updates

The IRS has announced the new standard mileage rate effective January 1, 2016.

Standard Mileage Rate

2016

2017

The IRS has announced the new standard mileage rate effective January 1, 2017.

The new rates for the use of a car (Including vans, pickups or panel trucks) will be:

53.5 cents per mile for business miles (this represents a 0.5 cent decrease from the previous year)
17 cents per mile for medical or moving purposes (this represents a 2 cent decrease from the previous year)

14 cents per mile driven in service of charitable organizations

 

The new rates for the use of a car (Including vans, pickups or panel trucks) will be:

54 cents per mile for business miles (this represents a 3.5 cent decrease from the previous year)
19 cents per mile for medical or moving purposes (this represents a 4 cent decrease from the previous year)

14 cents per mile driven in service of charitable organizations