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2017 Standard Mileage Rates for Business, Medical and Moving Announced » Mortgage Masters Group

The optional standard mileage rates for business use of a vehicle will drop slightly in 2017, the second consecutive annual decline, the IRS announced Thursday (Notice 2016-79).For business use of a car, van, pickup truck, or panel truck, the rate for 2017 will be 53.5 cents per mile, down from 54 cents per mile in 2016.

Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 53.5 cents per mile for business miles driven, down from 54 cents for 2016 17 cents per mile driven for medical or moving purposes, down from 19 cents for 2016 14 cents per mile driven in service of charitable organizations

For tax year 2017, you can deduct 53.5 cents per mile you drive for work. This is known as standard mileage rate, and the IRS can change this rate annually. You may apply this rate for up to four cars at the same time, but not for any equipment you need to drive for work, such as a tractor or snowplow.

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As it does every year, the Internal Revenue Service recently announced the inflation- adjusted 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (or a van, pickup.

6 Tips for Filing Your First Mortgage Application – New Florida Mortgage As you may know, it can take the IRS 4-8 weeks to process your tax filing. If your mortgage application depends on your income information for that year, we may have to wait for that tax return to be processed by the IRS before we can consider that income for your loan.

The Internal Revenue Service today issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 53.5 cents per.

Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 53.5 cents per mile for business miles driven, down from 54 cents for 2016 17 cents per mile driven for medical or moving purposes, down from 19 cents for 2016 14 cents per mile driven in service of charitable organizations

The IRS recently announced mileage rates to be used for travel in 2017. The Business mileage rate decreases by 0.5 cents while Medical and moving mileage rates are lowered by 2 cents. charitable mileage rates are unchanged. 2017 New Mileage Rates

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