IRS Announces 2016 Standard Mileage Rates
The Internal Revenue Service issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2016 - the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
- 54 cents per mile for business miles driven, down from 57.5 cents for 2015
Information regarding mileage and other per diem rates can be found on www.gsa.gov and further information is provided on the Finance & Treasury website at www.montclair.edu/media/montclairedu/financetreasurer/forms/accountingsvcs/travelregulations.pdf