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Thursday, July 09, 2020

 

Milage Rates

Standard Mileage Rates Effective 1/1/2020

Purpose                     2020 Rate                           2019 Rate

Business                       57.5 cents/mile                          58 cents/mile

Medical                         17 cents/mile                             20 cents/mile

Charity                          14 cents/mile                             14 cents/mile

When reporting mileage for your tax return, we will need the following information:

  • Total miles driven on your vehicle in 2020
  • Business miles only driven for the year