On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided for your convenience and does not constitute legal advice. This publication is protected by copyright.
If you operate an automobile for business, charitable, medical, or moving expense purposes, you will need to track your mileage for tax purposes. The IRS recently updated the 2017 optional standard mileage rates. Beginning on January 1, the rates for the use of a car, van, pickup truck or panel truck will be as follows:
- 5 cents per mile for business miles driven
- 17 cents per mile driven for medical or moving purposes
- 14 cents per mile driven in service of charitable organizations