December 17, 2018

The IRS has released Notice 2019-02updating the standard mileage rates for autos, pickup trucks, and vans. For 2019 the rate for business use is 58 cents per mile, for medical and moving it’s 24 cents per mile and for charitable use it’s 14 cents per mile. Keep in mind that the Tax Cuts and Jobs Act suspended until 2026 all itemized deductions subject to the 2-percent threshold. Members of a reserve component of the Armed Forces, state or local government officials paid on a fee basis, and certain performing artists can deduct unreimbursed employee travel as an adjustment to total income on line 24 of Schedule 1 of Form 1040. In addition, moving expenses are generally no longer deductible.