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IRS Announces 2017 Standard Mileage Rates

Feb 17, 2017

New “standard mileage rates,” established by the Internal Revenue Service (IRS), went into effect on January 1, 2017. The standard mileage rates for the use of a car, van, pickup or panel trucks is now:

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.•14 cents per mile driven in service of charitable organizations, unchanged from 2016.

The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. In general, you can only claim the deduction if you use your personal vehicle for your business, medical, moving, or charitable purposes. Miles driven to commute to and from work CANNOT be deducted.

Contact a tax professional regarding what is and isn’t allowed regarding mileage claims.