These key tax breaks will be expiring at the end of 2016


With just a few days left in 2016, is there still time to take any important tax steps for the year? Bill Bischoff covered many of the key steps to take and explained how some of president-elect Donald Trump’s policies may affect you But there are still other tips you should know about.

First of all, the Internal Revenue Service released the vehicle mileage rates for 2017. These are the standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

•53.5 cents per mile for business miles driven, down from 54 cents for 2016

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