The Internal Revenue Service today issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.
Beginning Jan. 1, 2016, the standard mileage rates for the use of a car ( also vans, pickups, or panel trucks) will be:
A) 54 cents per mile for business miles driven, down from 57.5 cents for 2015.
B) 19 cents per mile driven for medical or moving purposes, down from 23 cents for 2015.
C) 14 cents mile driven in service of charitable organizations.