The Internal Revenue Service, in Notice 2018-03, has announced the standard mileage rates for 2018:
-
The standard mileage rate for transportation or travel expenses is 54.5 cents per mile for all miles of business use (business standard mileage rate);
-
The standard mileage rate is 14 cents per mile for use of an automobile in rendering gratuitous services to a charitable organization under §170; and
-
The standard mileage rate is 18 cents per mile for use of an automobile (1) for medical care described in §213, or (2) as part of a move for which the expenses are deductible under §217.
For automobiles a taxpayer uses for business purposes, the portion of the business standard mileage rate treated as depreciation in 22 cents per mile for 2014, 24 cents per mile for 2015 and 2016, and 25 cents per mile for 2017 and 2018.
For more information, visit the Internal Revenue Service web site.