2017 Standard Mileage Rates for Business, Medical and Moving Announced » Mortgage Masters Group
The IRS has announced 2017 optional standard mileage rates for calculating deductible costs of using automobiles (cars, vans and pick-up or panel trucks) in business, medical, moving and charitable capacities. effective january 1, 2017, these rates will be set to: 53.5 cents per mile for business miles driven (down from 54 cents for 2016)
Beginning on Jan. 1, 2018, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 54.5 cents for every mile of business travel driven, up 1 cent from the rate for 2017. 18 cents per mile driven for medical or moving purposes, up 1 cent from the rate for 2017.
For tax year 2017, you can deduct 53.5 cents per mile you drive for work. This is known as standard mileage rate, and the IRS can change this rate annually. You may apply this rate for up to four cars at the same time, but not for any equipment you need to drive for work, such as a tractor or snowplow.
Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, 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 for 2016 14 cents per mile driven in service of charitable organizations.
2017 Standard Mileage Rates for Business, Medical and Moving Announced IR-2016-169, Dec.13, 2016 WASHINGTON – The Internal revenue service today issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
2017 Standard Mileage Rates for Business, Medical and Moving Announced IR-2016-169, Dec.13, 2016 WASHINGTON – The Int ernal Revenue Se rvice t oday i ssued t he 2017 opt i onal st andard mileage rates used to calcul at e t he deduct i bl e cost s of operat i ng an aut omobi l e f or business,
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