Each year, the IRS releases a new standard mileage rate. The IRS calculates the business rate based on an annual study of the fixed and variable costs of operating a car. So when rates change, it’s due common car costs—like gas prices or insurance premiums—changing. (The medical and moving rates are just based on variable costs.)
It’s important to always use the latest mileage rate (found here).
Go to this article for the current mileage rate.
A mileage tracker like Everlance is like your personal assistant, creating detailed mileage logs of your work trips and lists of expenses for you. Try it today.