The 20% Deduction (aka Section 199A)December 20, 2018
IRS clarifies What Taxpayers Should Do to Protect Private DataMarch 13, 2019
The optional standard mileage rates for business use of a vehicle will increase significantly in 2019, after increasing slightly last year, the IRS announced. For business use of a car, van, pickup truck, or panel truck, the rate for 2019 will be 58 cents per mile up from 54.5 cents per mile in 2018. Taxpayers can use the optional standard mileage rates to calculate the deductible costs of operating an automobile.
Driving for medical or moving purposes (moving mileage allowed for armed forces personnel only) may be deducted at 20 cents per mile, which is two cents higher than for 2018. The rate for service to a charitable organization is unchanged, set by statute at 14 cents per mile.