2017 Mileage Rates Announced


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On December 13, 2016, the IRS announced the Standard Mileage Rates for 2017.  Business mileage and Medical/Moving rates both decreased while Charitable mileage remained the same (this can only be changed by statute).

Here are the rates per mile for 2017:

                                                         2017                            

 Business Miles                      53.5 cents                 

Medical/Moving Miles          17 cents                   

Charitable Miles                     14 cents

Remember that the Standard Mileage Rate can not be used if you’re previously claimed Section 179 Depreciation or used MACRS depreciation on the vehicle.  Also, a business can not use the Standard Mileage Rate for more than four vehicles at once.  mileage-2

Thoughts or questions?  Please let me know using the form below.

Cheers!

Thomas C. Hodge
Founder

Hodge Group LLC
3943 N. Austin Avenue
Chicago, IL 60634

773.237.6369

www.thehodgegroup.com

www.taxbillappeals.com – Property Tax Bill Appeals for Cook County IL

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