SBS NOVA | 2016 Mileage Rates Now Established
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2016 Mileage Rates Now Established

01 Jan 2016 Mileage Rates Now Established

Posted at 19:11h in Deductions by

The IRS recently announced mileage rates to be used for travel in 2016. The Business mileage rate decreases by 3.5 cents while Medical and Moving mileage rates are lowered by 4.0 cents. Charitable mileage rates are unchanged.

2016 New Mileage Rates

Standard Mileage Rates
Mileage Rate/Mile
Business Travel 54.0¢
Medical/Moving 19.0¢
Charitable Work 14.0¢

Here are 2015 rates for your reference as well.

2015 Mileage Rates

Standard Mileage Rates
Mileage Rate/Mile
Business Travel 57.5¢
Medical/Moving 23.0¢
Charitable Work 14.0¢

Remember to properly document your mileage to receive full credit for your miles driven.