2016 Standard Mileage Rates for Business, Medical and Moving

The 2016 standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes will be:

·         54 cents per mile for business miles driven

·         19 cents per mile driven for medical or moving purposes.

·         14 cents per mile driven in service of charitable organizations.

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.

Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates. Consult with Ken A. Anaya for further detail call (844) KAA-4TAX or www.KAA4Tax.com