IRS Reduces Optional Standard Mileage Rate
The IRS just issued, an optional standard mileage rates, that are used to calculate the deductible costs of operating an automobile for business, medical, moving, and charitable purposes. Effective January 1, 2017, the effective mileage rates for the use of an automobile are as follows: 53.5 cents per mile for business miles driven (this is down from 54 cents that was in effect in 2016) 17 cents per mile for medical or moving purposes (this is down from 19 cents that was in