The IRS slightly reduced the mileage deduction rate to 57.5¢ for business miles. If you are wondering why the differences in the rates and for the change each year – the rate for the business mileage deduction comes from an annual study of the fixed and variable costs of operating an automobile. while the rate for medical and moving purposes is based only on the variable costs. – Forbes
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The mileage deduction is a great value
At Mileage Ace our average customer logs over 1200 business miles per month. That translates to a deduction of $8,352 in 2018!
How to increase your deduction
The IRS defines a business trip as one that both starts and ends on business. If you have to commute from home to the office, there could be a significant amount of driving that isn’t deductible. However, if you can combine the mileage deduction with a home office deduction, you might see a huge bump in your deduction. The reason for this is the home office deduction makes your home into a business location. This can mean that you can start claiming miles from the moment you leave home! You can read more about how you can claim your commuting miles.
The IRS deduction information can be in their article about 2017 Standard Mileage Rates.