Tuesday, December 18, 2018

2019 Standard Mileage Rates

Beginning 1/1/19, the standard mileage rates for cars, vans, pickups, and panel trucks will be 58 cents per mile for business miles, 20 cents per mile for medical or moving purposes, and 14 cents per mile for charitable purposes. However, the rates cannot be used to claim an itemized deduction for unreimbursed employee travel expense or for moving expenses (except for certain members of the U.S. Armed Forces) because these deductions were suspended for 2018-2025 by the Tax Cuts and Jobs Act. The portion of the business standard mileage rate treated as depreciation is 24 cents per mile for 2015 and 2016, 25 cents per mile for 2017 and 2018, and 26 cents per mile for 2019. When computing the allowance under a Fixed and Variable Rate (FAVR) plan, the standard vehicle cost cannot exceed $50,400 for autos, trucks, or vans. Notice 2019-2; News Release IR-2018-251