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Finance News

Standard Mileage Rates

Updated January 2020

Posted in: Announcements

IRS Announces 2020 Standard Mileage Rates

The Internal Revenue Service issued the 2020 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, 2020 – the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

  • 57.5 cents per mile driven for business use, down from 58 cents per mile in 2019.

Information regarding mileage and other per diem rates can be found on www.gsa.gov and information regarding medical and moving expenses can be found on www.irs.gov/tax-professionals/standard-mileage-rates

View further information on Travel Regulations