Firm Announcements and Law Updates

2017 Mileage Rate Reduced

The standard mileage rate for business driving in 2017 will be reduced to 53.5 cents per mile, but each vehicle's basis must be reduced by the depreciation component... 25 cents per mile. The rate for medical travel and moving will drop 2 cents to 17 cents per mile this year. You can also claim the cost of parking and tolls and use of the standard rate won't bar a deduction for state and local personal property taxes paid on the vehicle.

Aaron Arguijo