2018 Mileage Rates & More

Image result for 2017 to 2018

If a new tax law wasn’t enough to remember, a few other rates are changing for 2018 taxes.

  • Mileage Rates: Business mileage rate moves up to 54.5 cents/mile, Medical mileage rate moves up to 18 cents/mile, Charitable mileage rate remains unchanged at 14 cents/mile.
  • Deferral Contribution limits for employees moves up $500 to $18,500 in 2018.
  • Social Security Wage base (the amount of your wage or self-employed income subject to the 6.2%/12.4% tax) is up to $128,400 from $127,200