New Standard Mileage Rates Now Available; Business Rate to Reduce in 2017

IR-2016-169, Dec.13, 2016

WASHINGTON — The Internal Revenue Service today issued the 2017 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, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

  • 53.5 cents per mile for business miles driven, down from 54 cents for 2016
  • 17 cents per mile driven for medical or moving purposes, down from 19 cents for 2016
  • 14 cents per mile driven in service of charitable organizations

The business mileage rate decreased half a cent per mile and the medical and moving expense rates each dropped 2 cents per mile from 2016. The charitable rate is set by statute and remains unchanged.

The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs.

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

A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle. In addition, the business standard mileage rate cannot be used for more than four vehicles used simultaneously.

These and other requirements are described in Rev. Proc. 2010-51Notice 2016-79, posted today on IRS.gov, contains the standard mileage rates, the amount a taxpayer must use in calculating reductions to basis for depreciation taken under the business standard mileage rate, and the maximum standard automobile cost that a taxpayer may use in computing the allowance under a fixed and variable rate plan.

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Director : Tim Miller.
Producer : Ryan Reynolds, Simon Kinberg, Lauren Shuler Donner.
Release : February 9, 2016
Country : United States of America.
Production Company : Marvel Entertainment, TSG Entertainment, 20th Century Fox, Genre Films, The Donners’ Company.
Language : English.
Runtime : 108
Genre : Action, Adventure, Comedy.

‘Deadpool’ is a movie genre Action, was released in February 9, 2016. Tim Miller was directed this movie and starring by Ryan Reynolds. This movie tell story about Deadpool tells the origin story of former Special Forces operative turned mercenary Wade Wilson, who after being subjected to a rogue experiment that leaves him with accelerated healing powers, adopts the alter ego Deadpool. Armed with his new abilities and a dark, twisted sense of humor, Deadpool hunts down the man who nearly destroyed his life.

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Director : John Krasinski.
Producer : Michael Bay, Bradley Fuller, Andrew Form.
Release : April 3, 2018
Country : United States of America.
Production Company : Sunday Night, Platinum Dunes, Paramount.
Language : English.
Runtime : 91
Genre : Drama, Horror, Thriller, Science Fiction.

‘A Quiet Place’ is a movie genre Drama, was released in April 3, 2018. John Krasinski was directed this movie and starring by Emily Blunt. This movie tell story about A family is forced to live in silence while hiding from creatures that hunt by sound.

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Director : Ben Young.
Producer : David Hoberman, Nathan Kahane, Todd Lieberman.
Release : July 27, 2018
Country : United States of America.
Production Company : Good Universe, Mandeville Films, Universal Pictures.
Language : English.
Runtime : 96
Genre : Science Fiction, Thriller, Drama, Action.

‘Extinction’ is a movie genre Science Fiction, was released in July 27, 2018. Ben Young was directed this movie and starring by Michael Peña. This movie tell story about A chief mechanic at a factory, haunted by apocalyptic nightmares, becomes a hero when Earth is invaded by a mysterious army bent on destruction.

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