The IRS today announced the standard mileage rates for 2018:
- $0.545/mile for business miles driven (up from $0.535/mile in 2015);
- $0.18/mile for medical or moving purposes (up from $0.17/mile in 2015); and
- $0.14/mile in service of a charitable organization (unchanged; set by statute).
You can either use this standard mileage rate or use actual expenses. Either way, it’s important to keep a mileage log!
Tags: MileageRates