Business Miles Rate 2024. The new rate is effective jan. New standard mileage rates are:
Beginning on january 1, 2024, the standard mileage rates for the use of a car (also a van, pickup or panel truck) is: The optional standard mileage rate for business use of a vehicle increased slightly from 2023.
The Standard Mileage Rate For Business Will Be 67 Cents Per Mile, Effective Jan.
The new rate is effective jan.
Mileage Rate Increases To 67 Cents A Mile, Up 1.5 Cents From 2023.
Moving purposes and medical mileage.
Business Miles Rate 2024 Images References :
Hybrid Cars Are Treated As Either Petrol Or Diesel Cars For Advisory Fuel.
In 2024, there will be a 1.5 cent increase per mile to the optional standard mileage rate that is used to determine the deductible cost of operating a vehicle for business purposes.
For Example, Suppose The Standard Mileage Rate For Business Purposes In 2024 Is 59.5 Cents Per Mile.
(1/1 through 6/30/2022) $ per mile business rate (7/1 through 12/31/2022) $ per mile.