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Mileage rates for all years (cents/mile) Find standard mileage rates to calculate the deduction for using your car for business, charitable, medical or moving purposes.
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IR-2023-239, Dec. 14, 2023 — The Internal Revenue Service today issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
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.
This table shows the IRS Standard Mileage Rate from 1994 to 2023, including midyear changes in 2005, 2008, 2011, and 2022. And below you can see the trendline of the IRS rate for the same dates: Understanding The Standard Mileage Rate
The standard IRS mileage rate for 2024 is 67 cents per mile for business mileage. Businesses can use it for tax-free mileage reimbursement, but in most states, they can set their own rules for employee reimbursements. However, only reimbursements at or below IRS mileage rates are tax-free.
8 lip 2024 · The 2024 IRS standard mileage rates are 67 cents per mile for every business mile driven, 14 cents per mile for charity and 21 cents per mile for moving or medical.
22 lut 2023 · For example, if you drove your vehicle 1,000 miles for IRS-approved business purposes in 2022, multiply 1,000 miles x $0.58 per mile. You’ll be able to deduct $580. To use the standard mileage rate for a car you own, you need to choose this method for the first year you use the car for business.
