You’ve probably heard this by now, we’ve certainly been tweeting and hooting from Twitter about it, but just in case you haven’t, the standard mileage rates have been changed for 2017 by the IRS.
These rates are used to figure out reimbursements and deductions for business, charitable, medical, or moving use of your vehicle.
For Business the new rate is 53.5 cents per mile ($0.535) when you use your vehicle for business purposes.
For Medical and Moving, the rate is 17 cents per mile.
For Charitable purposes, the rate is set by statute and it remains at 14 cents per mile.