The IRS released the 2019 standard mileage rates. Beginning January 1, 2019, the standard mileage rates for the use of a car (vans, pickups or panel trucks) will be:
58 cents per mile for business miles driven, up from 54.5 cents for 2018
20 cents per mile driven for medical or moving purposes, up from 18 cents for 2018
14 cents per mile driven in service of charitable organizations, unchanged from 2018
Notice 2019-02 contains the standard mileage rates, the amount taxpayers must use in calculating reductions to basis for depreciation taken under the business standard mileage rate, and the maximum standard automobile cost that may be used in computing the allowance under a fixed and variable rate (FAVR) plan.
Comments