2024 Mileage Rate Crash. The irs is raising the standard mileage rate by 1.5 cents per mile for 2024. The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents per mile in 2024.

On december 14, 2023, the internal revenue service (irs) announced an increase in the optional standard mileage rate for tax year 2024. Beginning on january 1, 2024, the standard mileage rates for using a car (also vans, pickups or panel trucks) will be: