The 2016 standard business mileage rate for vehicular transportation or travel expenses will fall to 54 cents a mile in 2016 from 57.5 cents a mile in 2015, the IRS said.
Furthermore, the 2016 mileage rate for an automobile used for medical care or as part of a move for which the expenses are deductible will decrease to 19 cents a mile from 23 cents a mile in 2015, the Internal Revenue Service said Dec. 17 in Notice 2016-1 and an accompanying news release (IR-2015-137).
The mileage rate for charitable use isn’t adjusted by the IRS and remains at ...
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