The New Year means new standard mileage rates – and 2019 is no exception. The IRS recently announced new standard mileage rates and conditions for business use of a vehicle effective January 1, 2019. While the rate has increased significantly, employers and employees are still wondering how the new tax law will affect their deductions.
Here’s a one sheet to help steer you in the right direction.
(For a print-friendly PDF, click here).
If you have any questions, as always, please feel free to reach out to us at firstname.lastname@example.org
RICH TOOMEY, II, CPA, MSA is a supervisor in Ellin & Tucker’s tax department. His involvement with many of the firm’s most comprehensive tax engagements makes him well-versed in important tax-related topics and changing tax regulations. He can be reached at email@example.com.