Anyone who drives their own vehicle for work will be getting something of a raise this month, according to Triple-A-Iowa spokesman Mitch Beaumont. Beaumont says the I-R-S has increased the standard mileage rates for the use of a car, truck or van for business purposes to 50-and-a-half cents per mile, up two-cents from last year.
While that’s a plus for plenty of Iowans who rack up the miles, Beaumont says the news isn’t all good. Beaumont says the rate for medical or moving purposes actually dropped by one-cent per mile to 19-cents. The charitable driving rate remained unchanged at 14-cents per mile. Since the mileage rate for charitable miles is set by statute, Congress must take action in order for an increase to be considered in that category. He says the rates fluctuate at least once every year.
Beaumont says the rates change because inflation rates change every year, as do gasoline prices. He says it’s the I-R-S trying to help businesses keep up with the costs of doing business. For more information the IRS website .