Thursday, December 17, 2015

2016 Standard Mileage Rates

The rates seem to reflect a lowering of gas prices.  However, the cost of vehicles continues to climb and I think these standard rates miss that point.

SECTION 3. STANDARD MILEAGE RATES
The standard mileage rate for transportation or travel expenses is 54 cents per mile for all miles of business use (business standard mileage rate). See section 4 of Rev. Proc. 2010-51.
The standard mileage rate is 14 cents per mile for use of an automobile in rendering gratuitous services to a charitable organization under § 170. See section 5 of Rev. Proc. 2010-51.
The standard mileage rate is 19 cents per mile for use of an automobile (1) for medical care described in § 213, or (2) as part of a move for which the expenses are deductible under § 217. See section 5 of Rev. Proc. 2010-51.