Posted on December 15, 2017 by Mary Ellen Schill
Blog
The Internal Revenue Service has announced the optional standard mileage rates for computing the deductible cost of operating an automobile for business, medical, and moving expenses for 2018, and the increased rates reflect the increase in gasoline prices. Effective January 1, 2018, the optional standard mileage rates will increase to 54.5 cents per mile for […]
Posted on December 13, 2016 by Mary Ellen Schill
Blog
On December 13, 2016 the IRS issued its standard mileage rates for 2017. Each year (sometimes more frequently than that in times of price volatility) the IRS announces the standard mileage rates for determining the deductible cost for operating automobiles for various purposes, including business, medical, and charitable purposes. Employers often base their employee reimbursements […]