Standard mileage rate
Term · Law · MLC-T-LAW-004661
A rate set by a government agency that taxpayers can use to calculate the deductible costs of operating an automobile for business, medical, or moving purposes. This rate covers expenses such as depreciation, fuel, oil, insurance, and maintenance. The Internal Revenue Service (IRS) in the United States publishes these rates annually.
| Identifier | MLC-T-LAW-004661 |
|---|---|
| Field | Law |
Record as JSON
{
"id": "MLC-T-LAW-004661",
"term": "Standard mileage rate",
"field": "Law",
"definition": "A rate set by a government agency that taxpayers can use to calculate the deductible costs of operating an automobile for business, medical, or moving purposes. This rate covers expenses such as depreciation, fuel, oil, insurance, and maintenance. The Internal Revenue Service (IRS) in the United States publishes these rates annually.",
"url": "https://mlchart.com/terminology/law/standard-mileage-rate/"
}
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