GREAT NEWS! This week, the IRS 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 per mile driven for business use, up 3.5 cents from the 2018 rate
- 20 cents per mile driven for medical or moving purposes, up 2 cents from the 2018 rate
14 cents per mile driven in service of charitable organizations
You can view the full details here.