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2016 Business, Charitable & Medical/Moving Mileage Rates

2016 Standard Mileage Rates Announced

The IRS has published the 2016 standard mileage rates. For taxpayers with qualifying vehicle use, the rates are:

Business use - 54 cents per mile (down 3.5 cents from 2015.)

Charitable - 14 cents per mile (fixed by statute, so no change.)

Medical/ Moving - 19 cents per mile (down 4 cents from 2015.)

All the excruciating detail can be found at Notice 2016-1 at IRS.gov.

Not all taxpayers can use the business rate above.

As always, pleases ask me how this may or may not apply to your particular situation before taking any action based on this information.