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IRS Announces Higher Standard Mileage Rate for 2018

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SHRM Article ImageThe deductible business mileage rate is increasing 1 cent per mile as of Jan. 1, 2018, the IRS announced. The new rate may be used by taxpayers to compute the maximum deductible costs of operating a passenger vehicle for business purposes, as an alternative to tracking and deducting their actual costs.
Source: New feed 2

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