Thursday
Dec202018
2019 Standard Mileage Rates
Thursday, December 20, 2018 at 4:15PM by Banking Spectrum The Internal Revenue Service has issued the 2019 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, 2019, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
- 58 cents for every mile of business travel driven, up 1 cent from the rate for 2017.
- 20 cents per mile driven for medical or moving purposes, up 1 cent from the rate for 2017.
- 14 cents per mile driven in service of charitable organizations.
More information may be found in Notice 2019-02, posted on IRS.gov.
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