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2. IRS mileage rate for business goes up by 1.5 cents for 2024 - AOL

   www.aol.com/irs-mileage-rate-business-goes...

   The IRS bumped up the optional mileage rate to 67 cents a mile in 2024 for business use, up from 65.5 cents for 2023. The new rate kicks in beginning Jan. 1 and it would apply to 2024 tax returns ...

3. Taxes 2024: IRS Increases Mileage Standard Deduction Rates by ...

   www.aol.com/taxes-2024-irs-increases-mileage...

   For drivers on the low-end of that range, they could deduct $53,600 in mileage for 2024, versus $52,400 in 2023, decreasing their tax liability and potentially putting money in their pocket.

4. Business mileage reimbursement rate - Wikipedia

   en.wikipedia.org/wiki/Business_mileage...

   The business mileage reimbursement rate is an optional standard mileage rate used in the United States for purposes of computing the allowable business deduction, for Federal income tax purposes under the Internal Revenue Code, at 26 U.S.C. § 162, for the business use of a vehicle. Under the law, the taxpayer for each year is generally ...

5. Mileage Reimbursement Rate for 2025: What To Expect - AOL

   www.aol.com/mileage-reimbursement-rate-2023...

   The mileage rate for charity purposes has remained unchanged at 14 cents per mile from 2011 to 2024. Standard Mileage Rate vs. Actual Expense Method Not everything is tax deductible.

6. Fuel taxes in the United States - Wikipedia

   en.wikipedia.org/wiki/Fuel_taxes_in_the_United...

   The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. [ 1 ] [ 2 ] Proceeds from the tax partly support the Highway Trust Fund . The federal tax was last raised on October 1, 1993, and is not indexed to inflation , which increased 111% from Oct. 1993 until Dec. 2023.

7. Corporate average fuel economy - Wikipedia

   en.wikipedia.org/wiki/Corporate_average_fuel_economy

   In August 2021 NHTSA released its Notice of Proposed Rulemaking offering new standards for the 2024–2026 model years. The final rule covering the 2024–2026 model years was signed on March 31, 2022. Fuel economy targets for cars and light trucks each increase 8 percent for 2024 MY, 8 percent for 2025 MY, and 10 percent for 2026 MY.

8. Government incentives for fuel efficient vehicles in the ...

   en.wikipedia.org/wiki/Government_incentives_for...

   Diesel: Because diesel engines are typically more fuel efficient, and can run on cleaner blends of diesel fuel, diesel powered car buyers qualify for federal tax credits. Many Volkswagen diesel models are currently pre-approved for a tax credit of between $1,000 and $1,700. Because diesels are less common in the U.S. than standard gasoline cars ...

9. Write off your mileage? The IRS expands the deduction for ...

   www.aol.com/finance/write-off-mileage-irs...

   On Dec. 29, the agency announced a bump in the optional standard mileage rate starting Jan. 1, 2023 — which will now be 65.5 cents per mile driven. Taxpayers can use the new rate to calculate ...