Estimated Mileage Rate 2024. These rates, effective from january 1, 2024, play a key role in assisting tax preparers and their clients in accurately determining deductions related to vehicle usage. 67 cents per mile driven for business use (up 1.5 cents.


Estimated Mileage Rate 2024

The irs is raising the standard mileage rate by 1.5 cents per mile for 2024. For automobiles a taxpayer uses for business purposes, the portion of the business standard mileage rate treated as depreciation is 27 cents per mile for 2020, 26.

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