E-News

IRS lowers standard mileage rates for 2017

The IRS announced on December 13, 2016 that standard mileage rates for the business use of vehicles will be lowered for 2017 in Notice 2016-79.

The new standard mileage rates for the business use of vehicles will change from $.54 in 2016 to $.535 in 2017.

Medical and moving mileage deduction for 2017 will be calculated at a rate of $.17 per mile, down from $.19 in 2016.

The charitable mileage rate will remain unchanged at $.14 per mile for 2017.

 

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