Texas Unclaimed Property Compliance
12/21/2017

IRS Standard Mileage Rates for 2018

The Internal Revenue Service issued the 2018 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.

Beginning on January 1, 2018 the standard mileage rates for the use of a vehicle are:

  • 54.5 cents per mile for business travel
  • 18 cents per mile for medical or moving purposes
  • 14 cents per mile for service to charitable organizations

Taxpayers have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.