Irs Mileage Reimbursement 2024 Rules

Irs Mileage Reimbursement 2024 Rules. The new irs mileage rates for 2024 are 67 cents per mile for business purposes (up from 65.5 cents per mile in 2023), 21 cents per mile for medical or moving. The standard mileage rate for 2024 is currently 67 cents per mile, which is up from 65.5 cents per mile in 2023.

John, a freelancer, drives 1,000 miles for client meetings and is reimbursed by his clients at $0.60 per mile, totaling $600. The rate for charitable miles is set by law and remains the same as the previous tax year.