IRS Standard Mileage Rates for 2019 See Increase and a Major Change

The standard mileage rates for 2019 have just been released by the IRS and small businesses will see both a jump in the mileage standard for business travel and another big change thanks to the Tax Cuts and Jobs Act. The IRS mileage rates for 2019 apply to miles driven starting January 1, 2019. These standard mileage rates are important because they provide small businesses with a framework for calculating deductible costs for operating a vehicle for business purposes. The Tax Cuts and Jobs Act has also had a major impact on where the standard mileage deduction rate can be used.  Under the new law, no claim is possible for a miscellaneous itemized deduction on employee travel expenses that are unreimbursed. There is also no deduction for employee moving  expenses with the exception of Armed Forces members on active duty to a  permanent change of station under orders.