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The standard mileage rate for 2017 was recently announced by the IRS, advising taxpayers of the optional cents per mile reimbursement rate for the year.. The IRS also determined 17 cents per mile rate for medical or moving purposes and 14 cents per mile rate for travel related to charitable.
The standard mileage rate 2017 is 53.5 cents per mile for all miles of business use (business standard mileage rate). The 2017 rate is a dip from the 2016 standard mileage rate of 54 cents per mile. Many factors go into the standard mileage rate, including the cost of gas. That’s likely why there was a decrease between 2016 and 2017.
The Internal Revenue service today issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 53.5 cents per.
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The optional standard mileage rates for business use of a vehicle will drop slightly in 2017, the second consecutive annual decline, the IRS announced Thursday (Notice 2016-79).For business use of a car, van, pickup truck, or panel truck, the rate for 2017 will be 53.5 cents per mile, down from 54 cents per mile in 2016.
2017 Standard Mileage Rates for Business, Medical and Moving Announced Illinois Manufacturers’ Association 14 December, 2016 The Internal Revenue Service has issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
The IRS recently announced mileage rates to be used for travel in 2017. The Business mileage rate decreases by 0.5 cents while Medical and Moving mileage rates are lowered by 2 cents. Charitable mileage rates are unchanged. 2017 New Mileage Rates
Inflation is the primary reason why mileage reimbursement rates are have been adjusted for 2017. Charitable, Medical and Moving Mileage Reimbursement Rates. Beginning on Jan. 1, 2017, the standard mileage reimbursement rates for the use of a car, van, pickup or panel truck, are: 53.5 cents per mile for business miles driven.
Standard Mileage Rates for 2018 Up from Rates for 2017. IR-2017-204, Dec. 14, 2017. WASHINGTON The Internal Revenue Service today issued the 2018 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.