The IRS released the optional standard mileage rates for 2021. Most taxpayers may use these rates to compute deductible costs of operating vehicles for: business, medical, and charitable purposes. Some members of the military may also use these rates to compute their moving expense deductions.
The standard mileage rates for 2021 are:
• 56 cents per mile for business use
• 16 cents per mile for medical use
• 14 cents per mile for charitable use
Taxpayers may use these rates, instead of their actual expenses, to calculate their deductions for business, medical or charitable use of their own vehicles.