The IRS has released the 2018 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 2018 standard mileage rates compared to the 2017 and 2016 tax year standard mileage rates.

Business rate per mile54.5¢53.5¢54.0¢
Medical and moving rate per mile18.0¢17.0¢19.0¢
Charitable rate per mile14.0¢14.0¢14.0¢
Depreciation rate per mile25.0¢25.0¢24.0¢

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