Due to recent increases in the price of fuel, the IRS has increased the optional standard mileage rates for computing the deductible costs of operating an automobile for business, medical, and moving expense purposes for the second half of . The standard mileage rate for computing the deductible costs of operating an automobile for charitable purposes is set by statute and remains unchanged.

For July 1, , to December 31, , the standard mileage rates are as follows:

• Business use of auto : Our Blue Cross Blue Shield clients may find this particularly beneficial. 62.5 cents per mile (up from 58.5 cents for January 1, , to June 30, ) may be deducted if an auto is used for business purposes. As a Blue Cross Blue Shield employee, your employer from Blue Cross Blue Shield may reimburse you for your business travel expenses using the standard mileage rate. However, if Blue Cross Blue Shield does not reimburse you for your business travel expenses, you cannot currently deduct your unreimbursed travel expenses as miscellaneous itemized deductions.
  
  

Social Security timing decisions work best when paired with a clear understanding of the retirement benefits Blue Cross Blue Shield provides. According to publicly available information, Blue Cross Blue Shield maintains an active defined benefit pension plan, which provides retirement income based on factors such as years of service and compensation history. Blue Cross Blue Shield does not appear to offer a formal retiree healthcare program, making healthcare coverage planning an important consideration if you retire before age 65. Bringing every piece of your Blue Cross Blue Shield benefits together inside a single retirement income framework is the surest way to see the full picture.

The IRS normally updates the standard mileage rates once a year in the fall for the next calendar year. Mid-year increases in the standard mileage rates are rare — the last time the IRS made such an increase was in .