Standard Mileage Reimbursement Rate Adjustment for 2016

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Employers often reimburse their employees for mileage when they use their personal vehicles for business purposes.  The IRS allows a deduction at a particular rate for each mile driven.  Last year the IRS rate was 57.5 cents per mile, but beginning on January 1, 2016, the rate was reduced to 54 cents per mile.  The full IRS announcement can be found here.

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