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Standard mileage rate. For 2023, the standard mileage rate for the cost of operating your car for business use is 65.5 cents ($0.655) per mile. Car expenses and use of the standard mileage rate are explained in chapter 4. Depreciation limits on cars, trucks, and vans.
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30 sty 2024 · Standard mileage rate - For the standard mileage rate for the cost of operating your car for business, refer to Standard mileage rates or Publication 463, Travel, Entertainment, Gift, and Car Expenses. To use the standard mileage rate, you must own or lease the car and:
The standard mileage rate for transportation or travel expenses is 57.5 cents per mile for all miles of business use (business standard mileage rate). See section 4 of Rev. Proc. 2019-46. However, § 11045 of the Tax Cuts and Jobs Act, Public Law 115-97, 131. Stat. 2054 (December 22, 2017) (the “TCJA”) suspends all miscellaneous
12 sty 2023 · New mileage rates. Effective 17 January 2023, the rates for using cars for business purposes, paid by employers, will be as follows: 1. for a passenger car: with engine capacity of up to 900 cm3 – 0.89 zloty (currently 0.5214 zloty); with engine capacity of over 900 cm3 – 1.15 zloty (currently 0.8358 zloty);
This notice provides the optional 2022 standard mileage rates for taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes.
For the 2022 tax year (taxes filed in 2023), the IRS standard mileage rates are: 65.5 cents per mile for business. 14 cents per mile for charity. 22 cents per mile for medical purposes or moving purposes for qualified active-duty members of the armed forces.
Businesses can use the standard mileage rate to calculate the deductible costs of operating qualified automobiles for business, charitable, medical, or moving purposes. Keep reading for the updated mileage rates and some reminders for mileage reimbursements and deductions.
