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Having special needs sometimes means taking frequent car trips – whether to physical therapy, occupational therapy, doctor visits, or elsewhere. Individuals, parents, and caretakers are able to use the Internal Revenue Service’s (IRS) optional standard mileage rates to calculate the deductible costs of operating a vehicle for many of these trips.

2018 standard mileage rates

In December, the IRS issued their 2018 optional standard mileage rates. Beginning on January 1, 2018, the rates for using a car, van, pickup truck or panel truck will be as follows:

  • 54.5 cents for every mile of business travel driven
  • 18 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service of charitable organizations

The business mileage rate and the medical and moving expense rates each increased one cent per mile from the 2017 rates. The charitable rate remains unchanged.

The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating a vehicle. The rate for medical and moving purposes is based on variable costs.

It’s important to know that taxpayers have the option of calculating the actual costs of using their own vehicle instead of using standard mileage rates. The business standard mileage rate cannot be applied to more than four vehicles used simultaneously. These and other requirements are described here.

People with special needs and their loved ones should stay informed about the deductions, benefits, and financial planning options that are available to them. Feel free to contact the experts at Milestone Consulting if you have any questions.

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