In lieu of deducting actual expenses, the IRS permits qualified taxpayers to deduct a flat rate based on miles traveled, plus related tolls and parking fees. These standard mileage rates are updated annually. For 2019, the rates are:
58 cents per mile driven for business driving (up 3.5 cents from 2018);
20 cents per mile driven for medical or moving driving (up 2 cents from 2018); and
14 cents per mile driven for charitable driving (the same as 2018).
Note: The rate for charitable driving can only be changed by an act of Congress.
If you have any questions, please reach out to your JMF tax adviser.
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