The IRS today announced the standard mileage rates for 2016:
- $0.54/mile for business miles driven (down from $0.575/mile in 2015);
- $0.19/mile for medical or moving purposes (down from $0.23/mile in 2015); and
- $0.14/mile in service of a charitable organization (unchanged; set by statute).
You can either use this standard mileage rate or use actual expenses. Either way, it’s important to keep a mileage log!
Tags: mileage, MileageRates