Standard Mileage Rates Go Down for 2017

1/30/2017

Have you noticed the price of gas? So has the IRS – and the reimbursement rate for business mileage has gone down as a result.

The new rate for 2017 is 53.5¢ per mile, down from the 2016 rate of 54¢ per mile.

The rate for medical and moving mileage also decreased. Effective January 1, the standard rate is 17¢ per mile, down from last year’s 19¢. The charitable mileage rate remains 14¢.

This is general information and should not be acted upon without first determining its application to your specific situation.
Please contact your CPA or tax advisor for additional details.

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Successfully meeting the challenges inherent to new and smaller businesses provides me with a special type of satisfaction.

Supporting businesses that have the potential to become amazing – from both the perspective of owners and team members as well as their clients – is what I enjoy.

I hope to use this blog to provide information specific to businesses that are growing from small beginnings into exceptional companies.