Thursday, January 7, 2016
2016 Standard Mileage Rates
Beginning on 1/1/2016, the standard mileage rates for cars, vans, pickups, and panel trucks will be 54 cents per mile for business miles, 19 cents per mile for medical or moving purposes, and 14 cents per mile for charitable purposes. The business expense rate is down 3.5 cents per mile from 2015, and the medical and moving expense rates are down four cents per mile from the 2015 rates. The charitable rate is set by law and remains unchanged from last year's rate. The portion of the business standard mileage rate treated as depreciation is 23 cents per mile for 2012 and 2013, 22 cents per mile for 2014, and 24 cents per mile for 2015 and 2016. When computing the allowance under a Fixed and Variable Rate (FAVR) plan, the standard vehicle cost cannot exceed $28,000 for autos or $31,000 for trucks and vans. Notice 2016-1, 2016-2 IRB .