If you are going to use your car for business, charity, medical appointments, or moving during 2017, please be aware that the standard mileage rates for computing the deductible costs have changed.
Hello, this is Noel Dalmacio, your ultimate CPA at lowermytaxnow.
Effective January 1, 2017, here are the rates to use to calculate reimbursements and deductions for the year:
• Business. The rate is 53.5¢ per mile for business miles driven (down from 54 cents in 2016).
• Charitable. For charitable services, it remains at 14¢.
• Medical and moving. The rate for medical and moving mileage is 17¢ per mile (down from 19 cents in 2016).
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Until then, this is Noel Dalmacio, your ultimate CPA at lowermytaxnow.com.