The Internal Revenue Service issued the 2017 optional standard mileage rates to calculate the deductible costs of the operating an automobile for business, charitable, medical or moving purposes.
Beginning on January 1, 2017, the standard mileage rates for the use of a car (also van, 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 in 2016
- 14 cents per mile driven in service of charitable organizations
To read the mileage announcement in its entirety, click on this link.
Our professionals are available to answer any questions you may have regarding these new rates.