How much per mile 2018

This site uses cookies to store information on your computer. Some are essential to make our site work; others help us improve the user experience. By using the site, you consent to the placement of these cookies. Read our privacy policy to learn more. The optional standard mileage rates for business use of a vehicle will increase slightly in , after decreasing in the two previous years, the IRS announced Thursday Notice These optional standard mileage rates are used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Taxpayers always have the option of claiming deductions based on the actual costs of using a vehicle rather than the standard mileage rates. A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System MACRS or after claiming a Section deduction for that vehicle.

In addition, the business standard mileage rate cannot be used for more than four vehicles used simultaneously. Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates. A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System MACRS or after claiming a Section deduction for that vehicle.

In addition, the business standard mileage rate cannot be used for more than four vehicles used simultaneously. Please log in as a SHRM member before saving bookmarks. OK Proceed. Your session has expired. Please log in as a SHRM member. Cancel Sign In. Please purchase a SHRM membership before saving bookmarks. OK Join. An error has occurred.

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