Beginning January 1, 2019, the IRS is increasing the rate used to calculate the deductible costs of operating an automobile for business purposes.
The standard mileage rates for the use of a car, van, pickup or panel truck will be 58 cents per mile driven. This is an increase of 3.5 cents from 2018. The latest increase is sharper than the 1 cent uptick from 2017 to 2018.
The deductible mileage rate is based on an annual study of the fixed and variable costs of operating an automobile.