Broker Check

424 N. Riverfront Dr., Suite 310
Mankato, MN 56001
Phone: (507) 625-2526
Fax: (507) 388-9977

IRS MILEAGE RATE

The IRS has announced that the business standard mileage rate for transportation expenses paid or incurred beginning January 1, 2018, will be 54.5 cents per mile, up one cent from the 53.5 cent rate in effect during 2017.

In addition, the 2018 standard rate for miles driven for medical or moving purposes will increase to 18 cents per mile, up one cent from the 17 cents per mile rate in effect during 2017.

Finally, the standard mileage rate for operating a passenger car for charitable purposes, which is set by law, will stay at 14 cents per mile in 2018.