2018 – 02/27 – What’s your mileage deduction?

2018 – 02/27 – What’s your mileage deduction?

For 2017, you might be able to deduct miles driven for business, medical, moving and charitable purposes. For 2018, there are significant changes to some of these deductions under the Tax Cuts and Jobs Act (TCJA). Here are the standard mileage rates: Business: 53.5 cents (2017), 54.5 cents (2018). Medical: 17 cents (2017), 18 cents (2018). Moving: 17 cents (2017), 18 cents (2018). Charitable: 14 cents (2017 and 2018). But the rules are complex. And under the TCJA you might not be able to deduct business or moving miles on your 2018 return. Contact us for details.

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