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2018 Standard Mileage Reimbursement Rate Change

The Internal Revenue Service announced on Thursday, December 14, 2017 the following upcoming rate change:

Beginning on Jan. 1, 2018, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

  • 54.5 cents per mile for business miles driven, up from 53.5 cents for 2017
  • 18 cents per mile driven for medical or moving purposes, up one cent from 17 cents for 2017
  • I believe the deduction just a few years ago was 55.5 or 55.6 so after a dip at least it is headed in the right direction! Its only a penny a mile but if you drive 10,000 business miles a year like I do you will be able to write off an additional $100, every little bit helps.

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