standard mileage rate
A term to know.
The maximum per mile rate the IRS allows for the use of a vehicle for business, charitable, medical or moving purposes. This deduction is a simple alternative to itemizing vehicle expenses. The specific rate is set by the Code and/or the IRS and varies annually depending upon the purpose.
Synonyms:
standard mileage rates
Synonyms list
(a comma-separated list)
standard mileage rates