Web17 rows · Standard Mileage Rates. The following table summarizes the optional standard mileage rates for employees, self-employed individuals, or other taxpayers to use in computing the deductible costs of operating an automobile for business, … WebDec 22, 2024 · The new IRS mileage rates apply to travel starting on January 1, 2024. 56 cents per mile for business purposes. 16 cents per mile for medical or moving purposes. 14 cents per mile for charitable ...
IRS publishes 2024 standard mileage rates Grant Thornton
WebJan 2, 2024 · The 2024 standard mileage rate is 65.5 cents per business mile driven. Multiply business miles driven by the IRS rate To find out your business tax deduction … WebThe 2024 Mileage Rates are Here! ⛽ Standard business mileage r..." Thomas Financial LLC on Instagram: "Another Tax Tip for you, TF Fam! The 2024 Mileage Rates are Here! ⛽ Standard business mileage rate = 65.5 cents per mile ⛽ Medical and moving mileage rate = 22 cents per mile ⛽ Charitable mileage rates = 14 cents per mile. ⛽ Properly ... stratwood collection
Automobile allowance rates - Canada.ca
WebRates. Rates are reviewed regularly. The rate is: 78 cents per kilometre for 2024–23. 72 cents per kilometre for 2024–21 and 2024–22. 68 cents per kilometre for 2024–19 and 2024–20. 66 cents per kilometre for 2024–18, 2016–17 and 2015–16. WebMar 8, 2024 · Guidance on mileage reimbursement rates. Each year, the IRS sets a mileage reimbursement rate. As of July 2024, the standard mileage rate is $0.625 per … WebApr 6, 2024 · Standard Mileage Rate - For the current standard mileage rate, refer to Publication 463, Travel, Entertainment, Gift, and Car Expenses or search standard mileage rates on IRS.gov. To use the standard mileage rate, you must own or lease the car and: You must not operate five or more cars at the same time, as in a fleet operation, strat with black hardware