Page 30 - Tax Reforms - Businesses

SMR – Standard Mileage Rate (12/14)

1 Standard SMR

Mileage Rate
The law suspends all miscellaneous
itemized deductions that are
2 Standard subject to the 2 percent of
Mileage Rate
adjusted gross income floor.

Therefore, the business standard
3 Standard mileage rate listed in Notice 2018-

Mileage Rate
03, which was issued before the

Tax Cuts and Jobs Act passed,
4 Mileage Rate cannot be used to claim an
Standard

itemized deduction for un-

reimbursed employee travel

expenses in taxable years

beginning after Dec. 31, 2017, and
before Jan. 1, 2026.

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