2016 Standard Mileage Rate Announced by IRS

Earlier this week the IRS announced the 2016 standard mileage rates used to calculate the cost of operating a motor vehicle for business, charitable, medical, or moving purposes. Starting January 1, 2016, the standard mileage rates are as follows:

54 cents per mile for business miles driven;

19 cents per mile driven for medical or moving purposes; and,

14 cents per mile driven in service for charitable organizations.

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*Rex Halverson & Associates, LLC is not a law firm. Although Rex Halverson is a tax attorney, licensed to practice in California, his firm is made up of various tax professionals that have worked in state government for tax agencies or in one or more of the Big 4 Accounting firms in their State and Local Tax Practice.

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