Archive for category: Mileage Rates

2017 Standard Mileage Rates

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Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car, van, pickup or panel truck will be:

  • 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 for 2016
  • 14 cents per mile driven in service of charitable organizations

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.

For self-employed business owners, interest expense paid on the car loan is also deductible, above and beyond the standard mileage rate.

Parking and tolls are always separately deductible.

The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile, including depreciation, insurance, repairs, tires, maintenance, gas and oil. The rate for medical and moving purposes is based on the variable costs, such as gas and oil.

 

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2016 Standard Mileage Rates

Beginning on Jan. 1, 2016, the standard mileage rates for the use of a car, van, pickup or panel truck will be:

• 54 cents per mile for business miles driven, down from 57.5 cents in 2015

• 19 cents per mile driven for medical or moving purposes, down from 23 cents for 2015

• 14 cents per mile driven in service of charitable organizations

The business mileage rate decreased 3.5 cents per mile and the medical, and moving expense decreased 4 cents per mile from the 2015 rates.  The  charitable rate is based upon statute.

For self-employed business owners, interest expense paid on the car loan is also deductible, above and beyond the standard mileage rate.

Parking and tolls are always separately deductible.

The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile, including depreciation, insurance, repairs, tires, maintenance, gas and oil. The rate for medical and moving purposes is based on the variable costs, such as gas and oil.

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2015 Standard Mileage Rates

Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck will be:

• 57.5 cents per mile for business miles driven, up from 56 cents in 2014

• 23 cents per mile driven for medical or moving purposes, down half a cent from 2014

• 14 cents per mile driven in service of charitable organizations

For self-employed business owners, interest expense paid on the car loan is also deductible, above and beyond the standard mileage rate.

Parking and tolls are always separately deductible.

The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile, including depreciation, insurance, repairs, tires, maintenance, gas and oil. The rate for medical and moving purposes is based on the variable costs, such as gas and oil. The charitable rate is set by law.

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2014 Standard Mileage Rates

Beginning on Jan. 1, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

  • 56 cents per mile for business miles driven
  • 23.5 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service of charitable organizations

The business, medical, and moving expense rates decrease one-half cent from the 2013 rates.  The charitable rate is based on statute.

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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2013 IRS Standard Mileage Rates

Beginning on Jan. 1, 2013, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

• 56.5 cents per mile for business miles driven
• 24 cents per mile driven for medical or moving purposes
• 14 cents per mile driven in service of charitable organizations

The rate for business miles driven during 2013 increases 1 cent from the 2012 rate. The medical and moving rate is also up 1 cent per mile from the 2012 rate.

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