How Changes to the Mileage Reimbursement Rate and Qualified Transportation Benefits Will Impact Employers in 2018 | Virginia Benefit Advisors

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On December 14, 2017, the Internal Revenue Service released the 2018 standard mileage rates used to calculate deductible costs of operating vehicles for business purposes. The rate increased by one cent ¬†from 53.5 cents in 2017 to 54.5 cents in 2018. Employers who adopt the IRS standard mileage reimbursement rate in their employee handbook or … Continued