Business Watch: IRS ups 2018 mileage rates 1 cent

Morgan Chilson is The Capital-Journal’s business reporter.

I’m feeling the crunch-time of finding the perfect Christmas gifts. And I mean perfect because I thrive on pressure. Apparently.


I like gifts that match the person, and my friends are a little used to getting birthday gifts a month or two late because I was busy and unwilling to accept a sub-par option when it had to be perfect.

Possibly I need help.

Or at least an elf.

That elf might start with cleaning my desk as it’s out of control and I’m buried in papers. I yearn for that paperless society we erroneously thought would occur with the advent of papers. I find that instead, I print MORE things out because I have access to great data and reports online.

I’m working to fix that, but meanwhile, I could probably hide from the holidays under one of these piles.

I spent last week finishing up stories about health care for our upcoming special section, to publish Jan. 7. In 2018. Did you hear that? 2018. How does time fly this fast? It never moved so quickly until I had kids and mark off their years and achievements.

I’m hoping the New Year brings more positive business news. We’ll know who wins Top Tank, and after writing some of the profiles over this past week, I can’t wait to see that.

In fact, I think we should figure out a way for all of them to win.

I’m also looking forward to the work that will be done in Momentum 2022. If you haven’t read that plan, check it out at I can almost guarantee there will be something in that plan that interests you and encourages you to get involved.

No more of chit chat. There’s shopping to do…

IRS raises standard mileage rates for 2018

The Internal Revenue Service last week set the 2018 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning Jan. 1, 2018, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 54.5 cents for every mile of business travel driven, up 1 cent from the rate from 2017.

18 cents per mile driven for medical or moving purposes, up 1 cent from the rate from 2017.

14 cents per mile driven in service of charitable organizations.

Although business, medical or moving increased, the charitable rate is set by statute and was unchanged.