Archive for December 19th, 2018

Dec 19

The optional standard mileage rates for business use of a vehicle will increase significantly in 2019, after increasing slightly last year, the IRS announced Friday (Notice 2019-2). For business use of a car, van, pickup truck, or panel truck, the rate for 2019 will be IRS-850x476mile 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.