2017 Standard Mileage Rates for Business, Medical and Moving Announced » Mortgage Masters Group

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You can deduct unreimbursed expenses for business transportation within your local. four main categories: business, charitable, medical and moving expenses . Some transportation costs that were deductible in 2017 may not be deductible or. actual operating costs of your vehicle or use the IRS's standard mileage rates.

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Using these tax deductions for your small business can save you money. By Stephen Fishman, J.D.. Standard mileage rate method. You deduct a certain amount (the standard mileage rate) for each mile driven, plus all business-related tolls and parking fees.. 2017 through December 31, 2022, 100% of the cost may be deducted in a single year.

Inflation is the primary reason why mileage reimbursement rates are have been adjusted for 2017. Charitable, Medical and moving mileage reimbursement rates. beginning on Jan. 1, 2017, the standard mileage reimbursement rates for the use of a car, van, pickup or panel truck, are: 53.5 cents per mile for business miles driven.

2017 IRS Mileage Rate: What You Need to Know. 2017 . The standard mileage rate for 2017 was recently announced by the IRS, advising taxpayers of the optional cents per mile reimbursement rate for the year.. The IRS also determined 17 cents per mile rate for medical or moving purposes and.

If you don’t like it, move to a state with lower tax rates.-Don Weimelheimer Rachel. most would benefit by filing the proposed $24,000 standard deduction. Deductions for mortgage interest and.

 · 2017 Tax Guide: Deductions And Audit Risk. the pattern of income distributions and recent inflation rates.. Most people at the $50,000 income level use the standard deduction; among the.