An Easy Way to Track Your Business Mileage

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Written by Advertorial | Posted in Advertorial • Tax Changes

The IRS Mileage Rate 2017 is important for those looking to take a driving-related deduction. The IRS hasn’t announced the mileage rate for 2017 yet, but it can have a major impact on your taxes. While the business mileage rate gets most of the attention, you can also write off miles for charity, medical or moving purposes.

Standard Mileage Rate 2017 Business, Charity, Medical & Moving

The standard mileage rate 2017 hasn’t been determined yet. The IRS mileage rate can change over time. Here’s how it has changed over the most recent tax years and we’ll update this when the new mileage rate is announced:

Year	Rate per Mile	Dates Covered
2016	54 cents	1/01/16 – 12/31/16
2015	57.5 cents	1/01/15 – 12/31/15
2014	56 cents	1/01/14 – 12/31/14
2013	56 cents	1/01/13 – 12/31/13
2012	55.5 cents	1/01/12 – 12/31/12
2011	55.5 cents	7/01/11 – 12/31/11
2011	51 cents	1/01/11 – 6/30/11
2010	50 cents	1/01/10 – 12/31/10

What Is the Standard Mileage Rate?

The IRS allows you to take a deduction for use of a personal car for business purposes. You can use the actual expense method or use the standard mileage rate to calculate your deduction. This rate allows you to easily find the amount you can deduct for business use of a personal vehicle.

How To Use The IRS Mileage Rate 2017

It’s pretty simple to use the 2017 mileage rate to calculate your deduction. Simply multiply your business miles by the rate to arrive at your deduction. For example, the 2016 rate was 54 cents per mile and if you drove 10,000 business miles, your deduction would be $5,400.

What Goes Into The Mileage Rate 2017?

If you use a personal vehicle for business, charity or medical purposes, there’s a cost associated with it. The IRS understands this and allows you offset some of those costs through a deduction. The standard mileage rate can be used to calculate your mileage deduction.

To figure out the mileage rate, the IRS factors in things like average gas prices, depreciation and wear and tear. The IRS doesn’t publicize the exact process of determining how it arrives at the rate.