What Is The Mileage Rate In 2024. Travel — mileage and fuel rates and allowances. On december 14, 2023, the internal revenue service (irs) announced the 2024 standard mileage rate. 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.
The new rate kicks in beginning jan. 520 miles (37 electric + 483 gas) price:
The new irs mileage rates for 2024 are 67 cents per mile for business purposes (up from 65.5 cents per mile in 2023), 21 cents per mile for medical or moving.
520 Miles (37 Electric + 483 Gas) Price:
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The standard mileage rate will increase to 67¢ per mile for business miles driven beginning january 1, 2024, up from 65.5¢ in 2023.
The New Rate Kicks In Beginning Jan.
The increase began on january 1 and raised the rate from.