2016 Standard Mileage Rate Announced by IRS
Earlier this week the IRS announced the 2016 standard mileage rates used to calculate the cost of operating a motor vehicle for business, charitable, medical, or moving purposes. Starting January 1, 2016, the standard mileage rates are as follows:
54 cents per mile for business miles driven;
19 cents per mile driven for medical or moving purposes; and,
14 cents per mile driven in service for charitable organizations.