Optional standard mileage rates for business use of a vehicle will go down in 2016, the IRS announced on Thursday. For business use of a car, van, pickup truck, or panel truck, the rate for 2016 will be 54 cents per mile, compared with 57.5 cents in 2015.
Driving for medical or moving purposes may be deducted at 19 cents per mile, which is four cents lower than for 2015.
The rate for service to a charitable organization is unchanged, set by statute at 14 cents a mile.
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