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Beginning on Jan. 1, 2024, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 67 cents per mile driven for business use, up 1.5 cents from 2023. 21 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces, a decrease of 1 cent from 2023.
GSA has adjusted all POV mileage reimbursement rates effective January 1, 2024. * Airplane nautical miles (NMs) should be converted into statute miles (SMs) or regular miles when submitting a voucher using the formula (1 NM equals 1.15077945 SMs).
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.
This notice provides the optional 2024 standard mileage rates for taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes.
WASHINGTON — 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. 67 cents per mile driven for business use, up 1.5 cents from 2023.
The business mileage rate for 2024 is 67 cents per mile. You may use this rate to reimburse an employee for business use of a personal vehicle, and under certain conditions, you may use the rate under the cents-per-mile rule to value the personal use of a vehicle you provide to an employee. See Cents-Per-Mile Rule in section 3.
The standard mileage rates for 2024 are as follows: 2024 Standard Mileage Rates: IRS Notice 2024-08. IRS Standard Mileage Rates. You may also be interested in our free Lease Mileage Calculator.
For tax year 2024, the standard mileage rates for the use of a vehicle (including vans, pickups or panel trucks) will be: Purpose: Rate Per Mile: Business: $0.67: Medical: $0.21: Moving: $0.21: Charitable: $0.14: NOTE: These mileage rates apply to electric and hybrid-electric automobiles as well as gasoline and diesel-powered vehicles.
Beginning January 1, 2024, the standard mileage rates for the use of a vehicle will be: 67 cents per mile driven for business use (up 1.5 cents from 2023). 21 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces (a decrease of 1 cent from 2023).
The standard mileage rate in 2024 will be 67 cents per mile, the IRS said in Notice 2024-08. The rate for medical or moving purposes in 2024 decreased to 21 cents per mile, from the 22 cent rate in 2023.