Wednesday, December 21, 2016

The IRS Standard Mileage rate has been adjusted lower for 2017.

Due to the reduction in gasoline prices, the 2017 IRS Mileage rate will be 53.5¢ (Down from 54¢ per mile in 2016).

💰 53.5 cents per mile for business miles driven.
💰 17 cents per mile driven for medical or moving purposes.
💰 14 cents per mile driven in service of charitable organizations

For more information, please review the IRS announcement: 

Q:  Did you anticipate that the mileage rate would be lower? 

Robert Ruhno
Director and Blogger
Accounts Payable Professionals Group (APPG)