In 2023, the irs set the standard mileage rates at 65.5 cents per mile for business, 14 cents per mile for charity, and 22 cents per mile for medical and moving. The irs announced that the business standard mileage rate for transportation expenses paid or incurred beginning january 1, 2025, will be 67 cents.
67 cents per mile, up 1.5 cents from 65.5 cents in 2023. 67 cents per mile for business purposes.
67 Cents Per Mile For Business Miles Driven.
New standard mileage rates are:
Washington — The Internal Revenue Service Today Issued The 2025 Optional Standard Mileage Rates Used To Calculate The Deductible Costs Of Operating An.
The irs announced the 2025 business mileage rate, and it has increased for the fourth time in three years.
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The standard mileage rate will increase to 67¢ per mile for business miles driven beginning january 1, 2025, up from 65.5¢ in 2023.
67 Cents Per Mile For Business Purposes.
At the end of last year, the internal revenue service published the new mileage rates for 2025.