Kate Tatiania

Standard Mileage Rate 2024. The irs increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business to 67 cents per mile driven, up 1.5 cents. The portion of the business standard mileage rate treated as depreciation is 27 cents per mile for 2020, 26 cents per mile for 2021 and 2022, 28 cents per mile for 2023, and.

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. Mileage rate increases to 67 cents a mile, up 1.5 cents from 2023.