The IRS has issued the 2021 standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. As of Jan. 1, 2021, the standard mileage rates for the use of a vehicle are: 56 cents per mile for business use; 16 cents per mile for medical (or moving purposes for qualified active duty members of the Armed Forces) and 14 cents per mile in service of charitable organizations. The standard business mileage rate is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs. For more information: http://bit.ly/3hFKRkV Call or visit our website for more information! www.mjscpa.com/
