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The cents-per-mile rate for business miles decreases again for 2021

The cents-per-mile rate for business miles decreases again for 2021

Feb 4, 2021

This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-and-one-half cents, to 56 cents per mile. As a result, you might claim a lower deduction for vehicle-related expenses for 2021...