The IRS has announced the official mileage rates for 2016.   The IRS mileage rates for 2016 for the use of a vehicle are:

• 54 Cents per mile for business use down from 5 cents in 2015.
• 19 cents per mile for medical reasons or moving purposes down from 23 cents in 2015.
• 14 cents per mile for charitable purposes which is the same rate as in 2015.

We hope this information is helpful. If you would like more details about these changes or any other aspect of the new law, please do not hesitate to call Greg Gandy or Michael McDevitt at our office at 719-579-9090.