Ramblings of a Baltimore area Realtor: New Mileage Rate Announced by IRS

New Mileage Rate Announced by IRS

New Mileage Rate Announced by IRS

The IRS has just announced the optional standard mileage rates for the 2019 tax year.  The new rate is 58 cents for business miles driven.  That is up from the current 54.5 cents for the 2018 tax year.  

The new rate for miles driven for medical and moving purposes has been increased to 20 cents per mile, up from the current 18 cents per mile.  For the years 2018 through 2025 the deduction for moving is only allowable for members of the armed forces on active duty who move for PCS.

The new rate for miles driven in service for charitable organizations is now 14 cents.

  


If you are thinking of buying or selling an home in  Maryland give us a call at 410-292-0100 or start your search here and we'll talk about the market conditions and what your home could possibly be worth in today's market place if you are thinking of selling. If you are considering buying a home, there is no better time than now to buy. The tax savings and wealth building alone is worth the plunge into todays market.  Remax New Beginnings and I are connected with some of the brightest and best real estate agents in the world and can assist with your move here in Maryland or anywhere in the United States or abroad.  Ask me how.

June Piper-Brandon ~ Associate Broker ~ CDPE, CIAS, ePro, MRP

Long & Foster Hampden

410-292-0100 - Direct   410-889-9800 Office

City Living Expert

 

 

 

 

 

 

June Piper Brandon - Agent with Century 21 New Millennium

June Piper Brandon - Agent with Century 21 New Millennium

Comment balloon 3 commentsJune Piper-Brandon • December 19 2018 02:05AM

Comments

For me this is great as I travel a lot of miles in my rural area

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) 10 months ago

Dear June,

I hope they did not do away with the actual cost method, as that is what I have used for years. Although ... maybe I would come out ahead. I have a relative gas miser at 40-50 miles per gallon, depending on the season.

Posted by Dörte Engel, ABC - Annapolis, Bowie, Crofton & rest of Maryland (RE/MAX Leading Edge) 10 months ago

Thank you for the information. I was not aware of the new rates . 

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) 10 months ago

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