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.
Beginning on Jan. 1, 2024, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
67 cents per mile driven for business use, up 1.5 cents from 2023.
The reimbursement rate for driving an automobile in connection with a move or relocation is 21 cents a mile. (Note that reimbursements for moving- related expenses, including mileage, are considered taxable wage income as of January 1, 2018).
These rates are reflected within the travel and expense managment system, Concur, and can be viewed within the G-28 policy.
