215.723.4881

one source, many services, the right decision

IRS Announces 2017 Standard Mileage Rates

Mileage odometer

The IRS has announced the 2017 standard mileage rates for miles traveled related to business, charitable, medical, or moving activities.

Rates for Business, Medical and Moving Decreasing from 2016 rates

Starting January 1, 2017, the standard mileage rates for the use of a car, van, pick-up or panel truck will be:

  • 53.5 cents per mile for business miles (a decrease of .5 cents from 2016)
  • 17 cents per mile for medical or moving purposes (a decrease of 2 cents from 2016)
  • 14 cents per mile for miles driven in the service of a charitable organization (no change from 2016)

These standard mileage rates are determined by annual studies of the costs of operating a vehicle. For business mileage, the fixed and variable costs are taken into consideration. For medical and moving mileage, only the variable costs of operation are considered. The mileage rate for charitable organization service is based on a statute. Read more about these determinations in Rev. Proc. 2010-51. Notice 2016-79 from IRS.gov.

If you have any questions about these new updates, please contact us, we are happy to be of service.

 

Leave a comment

Make sure you enter the (*) required information where indicated.
Basic HTML code is allowed.

News and Events»IRS Announces 2017 Standard Mileage Rates

Corporate Ltd Info

LinkedIn YouTube