01/04/2021

IRS business mileage rate decreased for 2021

If you're paying business mileage for a supply preacher, employee, or anyone else, please note the decrease set by the IRS for 2021.

From the IRS in the Journal of Accountacy:

The Internal Revenue Service recently issued the 2021 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on January 1, 2021, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

• 56 cents per mile driven for business use,

• 17 cents per mile driven for medical or moving purposes, down three cents from the rate for 2019, and

• 14 cents per mile driven in service of charitable organizations.

Please visit the IRS website for more information.