The IRS has released the 2017 standard mileage rates for taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes. The following chart reflects the new 2017 standard mileage rates compared to the 2016 and 2015 tax year standard mileage rates.
|Business rate per mile||53.5¢||54.0¢||57.5¢|
|Medical and moving rate per mile||17.0¢||19.0¢||23.0¢|
|Charitable rate per mile||14.0¢||14.0¢||14.0¢|
|Depreciation rate per mile||25.0¢||24.0¢||24.0¢|