2024 Mileage Rate Reimbursement Rate

2024 Mileage Rate Reimbursement Rate. 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. For 2024, the standard mileage rate for business travel will be 67 cents per mile, an increase of 1.5 cents from the rate effective at the start of the year.

For 2024, the standard mileage rate for business travel will be 67 cents per mile, an increase of 1.5 cents from the rate effective at the start of the year. The irs is raising the standard mileage rate by 1.5 cents per mile for 2024.