The IRS announces standard mileage rates for 2018

The optional mileage allowance for owned or leased vehicles (including autos, vans or pickups) will climb 1 cent to 54.5 cents per mile for business travel. Employers also can use this rate for reimbursements to employees who supply their own autos for business use, and to value personal use of certain low-cost employer-provided vehicles. The rates for using a car to get medical care and in connection with a move that qualifies for the moving expense deduction also increase by 1 cent, to 18 cents. (Notice 2018-3)