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IR-2017-204, Dec. 14, 2017. WASHINGTON The internal revenue service today issued the 2018 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
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2017 Standard Mileage Rates for Business, Medical and Moving Announced February 5, 2016 by Tom Janssen WASHINGTON – The Internal Revenue Service today issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
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Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (or a van, pickup or panel truck) are: 53.5 cents per mile for business miles driven (including a 25-cent-per-mile allocation for depreciation). This is down from 54.0 cents in 2016; 17 cents per mile driven for medical or moving purposes.
The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs. Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.
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2017 IRS Mileage Rate: What You Need to Know. 2017 . The standard mileage rate for 2017 was recently announced by the IRS, advising taxpayers of the optional cents per mile reimbursement rate for the year.. The IRS also determined 17 cents per mile rate for medical or moving purposes and.
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