The IRS has released the optional standard mileage rates for 2021. Most taxpayers may use these rates to compute deductible costs of operating vehicles for business, medical, and charitable purposes. Beginning on January 1, 2021, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
- 56 cents per mile for business uses;
- 16 cents per mile for medical uses; and
- 14 cents per mile for charitable uses.
Taxpayers may use the standard mileage rates, instead of their actual expenses, to calculate certain deductions. For questions or assistance, contact us at 717-569-2900.
