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Post by deltas*delights on Feb 18, 2016 2:33:54 GMT
We did our taxes yesterday and allowed mileage has gone up from .565 to .575
Just an FYI  |
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val2525
Chaos Manager
Posts: 30,768 
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Post by val2525 on Feb 18, 2016 7:41:26 GMT
Bad news for this year though:
Beginning on Jan. 1, 2016, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
54 cents per mile for business miles driven, down from 57.5 cents for 2015
19 cents per mile driven for medical or moving purposes, down from 23 cents for 2015
14 cents per mile driven in service of charitable organizations
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Post by deltas*delights on Feb 19, 2016 2:40:19 GMT
Oh good grief.
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val2525
Chaos Manager
Posts: 30,768
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Post by val2525 on Feb 19, 2016 4:54:26 GMT
Gas prices dropped significantly, that's why the 2016 rate was lowered. If the gas prices get jacked up later in the year, the IRS will raise the rate.
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Post by SA on Feb 20, 2016 11:06:56 GMT
It makes sense that it would go down for CY16. I'll take this year though! With my Prius, it only takes me an average of $.03/mile to drive |
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Post by denise15601 on Feb 22, 2016 4:16:50 GMT
Figured the allowance would go down with the gas price decrease.
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