The Internal Revenue Service recently issued the revised standard mileage rate which is used to calculate the deductible costs of operating an automobile for business purposes during 2020.
Beginning January 1, 2020, the standard mileage rate for the use of a car for business purposes will be 57.5 cents per mile for business miles driven – a one half of a cent decrease per mile from the 2019 rate. The standard mileage rate is based on an annual study of the fixed and variable costs of operating an automobile.
Churches that follow an accountable reimbursement plan should use the new rate to budget expenses for 2020.
Church of God Benefits Board, Inc. 