IRS increases the standard mileage rate for business use in 2025; …
IR-2024-312, Dec. 19, 2024. WASHINGTON — The Internal Revenue Service today announced that the optional standard mileage rate for automobiles driven for business will increase by 3 cents in 2025, while the mileage rates for vehicles used for other purposes will remain unchanged from 2024.. Optional standard milage rates are used to calculate the deductible costs of …
Here's the new IRS mileage rate for business use in 2025 - USA …
Dec 21, 2024 · The Internal Revenue Service on Thursday announced that the 2025 standard mileage rate will go up by 3 cents per mile to 70 cents for the optional mileage rate for automobiles driven for...
IRS increases the standard mileage rate for business use in 2025; …
16 hours ago · The Internal Revenue Service today announced that the optional standard mileage rate for automobiles driven for business will increase by 3 cents in 2025, while the mileage rates for vehicles used for other purposes will remain unchanged from 2024. ... Local News. Tagged as: Internal Revenue Service, IRS increases the standard mileage rate for ...
IRS Raises Standard Mileage Rate for 2025 - SHRM
Dec 20, 2024 · The IRS is raising the standard mileage rate by 3 cents per mile for 2025. The agency on Dec. 19 announced that the business standard mileage rate per mile is rising to 70 cents, up from 67 cents ...
IRS Announces Standard Mileage Rates For 2025 - Forbes
Dec 20, 2024 · Beginning January 1, 2025, the standard mileage rates for the use of a car, van, pickup, or panel truck will be: 70 cents per mile driven for business use (up 3 cents from 2024). 21 cents per...
IRS Releases Standard Mileage Rates for the 2025 Tax Year
1 day ago · In 2025, the optional standard mileage rate for using a car for business purposes will be 70 cents per mile driven for business purposes (up from 67 cents per mile in 2024).
Tax updates and news from the IRS | Internal Revenue Service
Standard mileage rates for 2024 – Beginning on Jan. 1, 2024, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) are 67 cents per mile driven for business use. For details, see IRS issues standard mileage rates for 2024; mileage rate increases to 67 cents a mile, up 1.5 cents from 2023.
IRS News Release: 2025 Standard Mileage Rate for Vehicles …
Dec 19, 2024 · Beginning Jan. 1, 2025, the optional standard mileage rate for automobiles driven for business will be 70 cents per mile (increased from 67 cents per mile in 2024), while the mileage rates for vehicles used for other purposes will remain unchanged from 2024, the …
IRS Releases 2025 Standard Mileage Rates - Bloomberg Tax
Dec 19, 2024 · The 2025 standard mileage rate for travel expenses is 70 cents per mile, up from 67 cents, the IRS said in Notice 2025-05. The rate for medical or moving purposes in 2025 is 21 cents per mile, unchanged from 2024, the IRS said.
IRS ups standard mileage rate for 2025 | Accounting Today
Dec 19, 2024 · The optional standard mileage rate for automobiles driven for business will increase 3 cents in 2025, the Internal Revenue Service said Thursday, but the mileage rates for vehicles used for other purposes will stay unchanged from this year. Optional standard mileage rates are employed to compute the ...
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