2024 Mileage Rate Deduction. At the end of 2023, the irs announced the mileage rate for the mileage tax deduction. The general prescribed rate used to determine the taxable benefit of employees relating to the personal portion of automobile expenses paid by their employers will remain at.
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. Should you use the standard mileage or actual expenses method?