Out with the old – in with the new 2018 mileage rates

By elitecpas | December 14, 2017 | Comments Off on Out with the old – in with the new 2018 mileage rates

Calendar pageIt’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.

 

Beginning January 1, 2018:

 

54.5 cents/mile (business miles driven)
18 cents/mile driven (medical or moving
purposes)
14 cents/mile driven (in service to charitable organizations)

 

Historical Mileage Rates

Year:

Business

Medical or Moving

Charitable Service
2017 IRS Mileage Rate 53.5 Cents/Mile 17 Cents/Mile 14 Cents/Mile
2016 IRS Mileage Rate 54 Cents/Mile 19 Cents/Mile 14 Cents/Mile
2015 IRS Mileage Rate 57.5 Cents/Mile 23  Cents/Mile 14 Cents/Mile
2014 IRS Mileage Rate 56 Cents/Mile 23.5  Cents/Mile 14 Cents/Mile
2013 IRS Mileage Rate 56.5 Cents/Mile 24 Cents/Mile 14 Cents/Mile
2012 IRS Mileage Rate 55.5 Cents/Mile 23 Cents/Mile 14 Cents/Mile
2011 IRS Mileage Rate(July 1 – December 31) 55.5 Cents/Mile 23.5 Cents/Mile 14 Cents/Mile
2011 IRS Mileage Rate(January 1 – June 30) 51 Cents/Mile 19 Cents/Mile 14 Cents/Mile
2010 IRS Mileage Rate 50 Cents/Mile 16.5 Cents/Mile 14 Cents/Mile
2009 IRS Mileage Rate 55 Cents/Mile 24 Cents/Mile 14 Cents/Mile
2008 IRS Mileage Rate(July 1 – December 31) 58.5 Cents/Mile 27 Cents/Mile 14 Cents/Mile
2008 IRS Mileage Rate(January 1 – June 30) 50.5 Cents/Mile 19 Cents/Mile 14 Cents/Mile
2007 IRS Mileage Rate 48.5 Cents/Mile 20 Cents/Mile 14 Cents/Mile
2006 IRS Mileage Rate 44.5 Cents/Mile 18 Cents/Mile 14 Cents/Mile

 

 

 

 

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