You love your freelancers because they go the extra mile. Now that extra mile is going to cost you less.
Effective Jan. 1, standard mileage rates for using a personal vehicle for business purposes will be just a little lower than they were in 2016. Here is the CliffsNotes on how the mileage rates decrease could affect you and your budget.
What’s the new breakdown?
- 53.5 cents per mile driven for business purposes (down from 54 cents in 2016)
- 17 cents per mile driven for medical or moving purposes (down from 19 cents for 2016)
- 14 cents per mile driven in service of charitable organizations (the same as 2016)
As you can see, the decrease isn’t drastic. But as the miles add up, every little bit counts.
If you pay your freelancers for actual costs, you should still expect to cover maintenance, insurance, and other expenses.
