The IRS issued the 2020 optional standard mileage reimbursement rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning Jan. 1, 2020, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) are as follows:
- 57.5 cents per mile driven for business use, down one half of a cent from the rate for 2019,
- 17 cents per mile driven for medical or moving purposes, down three cents from the rate for 2019, and
- 14 cents per mile driven in service of charitable organizations.
More details about the new standard mileage reimbursement rates are available at https://www.irs.gov/newsroom/irs-issues-standard-mileage-rates-for-2020.
Click here to download our 2020 Key Tax Sheet.
I joined Hawkins Ash CPAs in 2011. As the Firm's marketing manager, I develop and deploy strategic marketing and communications plans to fulfill the marketing goals of the Firm as a whole, each office and business line.
