Mileage Rate For 2024 Taxes. The internal revenue service (irs) has announced the standard mileage rates for the year 2024. Find standard mileage rates to calculate the deduction for using your car for business, charitable, medical or moving purposes.
Individuals who are reporting this deduction will have to factor this change into their calculations come tax time. John, a freelancer, drives 1,000 miles for client meetings and is reimbursed by his clients at $0.60 per mile, totaling $600.