The IRS just announced the per-mile reimbursement rates for 2024. Beginning January 1, 2024, here are the new rates for the following business categories: 67 cents per mile driven for standard business use [an increase of 1.5 cents from 2023]. 21 cents per mile driven for qualified active-duty Armed Forces members for medical travel or for moving purposes [a decrease of 1 cent from 2023]. 14 cents per mile driven in service of charitable organizations. […]
Business mileage rate increases to 62.5 cents per mile, up from 58.5 cents Citing soaring gas prices, the Internal Revenue Service (IRS) on June 9 announced an increase in the optional standard mileage rate for the final six months of 2022. Effective July 1 through Dec. 31, 2022, the standard mileage rate for the business use of employees’ vehicles will be 62.5 cents per mile—the highest rate the IRS has ever published—up […]
The business mileage rate will be $0.56 cents per mile For 2021, standard mileage rates for the use of cars, vans, pickups, or panel trucks will be: $0.56 cents per mile driven for business use, down from $0.575 cents in 2020. $0.16 cents per mile driven for medical or moving purposes, down from $0.17 cents in 2020. $0.14 cents per mile driven in service of charitable organizations, which remains unchanged. While the standard mileage rates […]