NOTE: The 2018 Standard Mileage Deduction Rate has not been released yet. We will update this article as soon as the rate is available.
Every year the IRS updates the Standard Mileage Deduction Rate and no matter what type of driving you do, if you drive for business purposes, moving or charitable causes – the 2018 IRS Standard Mileage Deduction Rate is there to help you easily deduct your mileage.
For those of you wondering why you’d use the standard mileage deduction rate instead of itemizing expenses for actual costs, you do have a choice. You can use one or the other, but you can’t use both.
The IRS has attempted to simplify the deduction process for everyone with the standard mileage deduction, however you’re not required to use it – you do have another option. Continue Reading