As it does every year, the Internal Revenue Service recently announced the inflation- adjusted 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (or a van, pickup.
The 2017 standard mileage rates are: 53.5 cents per mile for business, down from 54 cents in 2016 17 cents per mile for medical/moving, down from 19 cents in 2016 14 cents per mile for charity, the same as in 2016
Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 53.5 cents per mile for business miles driven, down from 54 cents for 2016 17 cents per mile driven for medical or moving purposes, down from 19 cents for 2016 14 cents per mile driven in service of charitable organizations.
2017 Standard Mileage Rates for Business, Medical and Moving Announced IR-2016-169, Dec.13, 2016 WASHINGTON – The Int ernal Revenue Se rvice t oday i ssued t he 2017 opt i onal st andard mileage rates used to calcul at e t he deduct i bl e cost s of operat i ng an aut omobi l e f or business,
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The business mileage rate decreased half a cent per mile and the medical and moving expense rates each dropped 2 cents per mile from 2016. The charitable rate is set by statute and remains unchanged. The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile.
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Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups, or panel trucks) are: 53.5 cents per mile for business miles driven, down from 54 cents in 2016 17 cents per mile driven for medical or moving purposes, down from 19 cents in 2016
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