Yesterday, the IRS announced the 2020 standard mileage rates. The rates are:
- 57.5 cents per mile for business use (down 0.5 cents per mile from 2019);
- 17 cents per mile for medical or moving use (down 3 cents per mile from 2019); and
- 14 cents per mile driven in service of charitable organizations (set by statute).
As a reminder, keep your mileage log! (Indeed, I’ll have a post on keeping your 2020 mileage log next week.)
Tags: mileage