FAQ – New Mileage Rates for 2017
Beginning on Jan. 1, 2016, 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
- 17 cents per mile driven for medical or moving purposes
- 14 cents per mile driven in service of charitable organizations
The maximum standard automobile cost that may be used in computing the allowance under a fixed- or variable-rate plan decreases to $28,000 for automobiles (excluding trucks and vans). The rate for trucks and vans actually increases to $31,000.
Source: IRS News Release and Notice