IRS Announces 2016 Standard Mileage Rates

The IRS announced today the Standard Mileage Rates for 2016. They are:

• Business Mileage:  $ .54/mile
• down from 2015’s $ .575
• Medical & Moving Mileage:  $ .19/mile
• down from 2015’s $ .23
• Charitable Mileage:  $ .14/mile
• unchanged for more than a decade

Of the three categories, only the charitable mileage rate requires an act of the US Congress to change!

Happy motoring!