Standard mileage rates for 2016 are going the same way gasoline prices have gone in the last few months—down. The
Fixed by statute, the charitable rate remains at 14 cents per mile driven.
The standard mileage rates apply to the use of car, vans, pickups or panel trucks.
Taxpayers can chose to calculate actual costs of using vehicles, rather than using the standard rates. Anyone using any depreciation method under the Modified Accelerated Cost Recovery System or after claiming a Section 179 deduction for that vehicle cannot use the standard rate. The rate can also not be applied to more than four vehicles being used simultaneously.
