Update: IRS Announces 2018 Mileage Rates

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The IRS recently issued the 2018 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on January 1, 2018, the standard mileage rates for the use of a car, van, pickup, or panel truck will be:

  • Business travel: 54.5 cents per mile for business miles driven
  • Medical or moving purposes: $.18 cents per mile driven
  • Serving charitable organizations: 14 cents per mile driven

The business mileage rate and the medical and moving expense rates each increased 1 cent per mile from the 2017 rates. The charitable rate is set by statute and remains unchanged.

Any accounting, business, or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough analysis of specific issues, nor a substitute for a formal opinion, nor was it written to be used to avoid tax related penalties.