The Internal Revenue Service has issued the 2016 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, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
• 54 cents per mile for business miles driven, down from 57.5 cents for 2015
• 19 cents per mile driven for medical or moving purposes, down from 23 cents for 2015
• 14 cents per mile driven in service of charitable organizations
The business mileage rate decreased 3.5 cents per mile and the medical, and moving expense rates decrease 4 cents per mile from the 2015 rates. The charitable rate is based on statute.
The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile.
The rate for medical and moving purposes is based on the variable costs.
- Posted December 25, 2015
- Tweet This | Share on Facebook
IRS announces 2016 standard mileage rates
headlines Macomb
- New leadership team takes helm at State Bar
- Four weeks before Election Day, mail ballot returns are up 30% over same point in 2022
- Belleville woman arraigned in connection with alleged arson, felonious assault
- Warren man pleads No Contest to Felonious Assault and dog stabbing
- Woman sentenced for mortgage fraud, filing a false $374,000 tax refund return
headlines National
- Melissa Hart, the chair of the ABA Legal Ed council, dies
- Judge suspended after indictment over alleged perjury
- Bill Withers’ music publisher files copyright suit over Olivia Dean’s ‘I’ve Seen It’
- Judge reinstates US attorney in Washington fired by Trump
- Interim law dean of University of Florida named to permanent role
- Clio acquires Learned Hand, an AI company for courts, judges
