IRS decreases standard deductions for vehicle
The IRS is reducing the standard per mile deduction for travel in connection with business, medical care, and moving. The new allowance for business travel is 0.56¢ per mile, which is down from 0.565¢ per mile. The deductions for medical care and moving travel fall from 0.24¢ per mile to 0.235¢ per mile. The standard deduction for driving for charitable purposes is set separately and remains unchanged at 0.14¢ per mile. Continue reading IRS decreases standard deductions for vehicle