2020 Mileage Rate Increase

Mar 11, 2020 By Evan Nielsen In Taxation No Comment Tags : , ,

Starting 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 for every mile of business travel driven, a decrease of one half of a cent from the rate for 2019.
  • 17 cents per mile driven for medical or moving purposes, a decrease of 3 cents from the rate for 2019.
  • 14 cents per mile driven in service of charitable organizations.

You may also have the option of calculating the actual costs of using your vehicle rather than using the standard mileage rates.

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Disclaimer: For informational purposes only. Does not constitute legal, financial, or other advice. Consult with an attorney before taking any action.