A new year will mean a new, slightly higher standard mileage rate for 2025. The Internal Revenue Service on Thursday announced that the 2025 standard mileage rate will go up by 3 cents per mile to 70 ...

The federal mileage deduction is supposed to be a simple proxy for what it really costs to put a car on the road for work. Yet even after the latest increase, the official rate still lags the real ...

70 cents per mile driven for business use (up 3 cents from 2024). 21 cents per mile driven for medical purposes (the same as in 2024). 21 cents per mile driven for moving purposes for qualified active ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. Preview this article 1 min The IRS has decided to boost the ...

The Internal Revenue Service issued the 2025 optional standard mileage rates today for computing the deductible cost of operating an automobile for business, charitable, medical, or moving purposes.

One fast tax tip to review before filing your 2024 federal income tax return is the IRS mileage rate. It's a much-talked-about deduction, but it's also a tax break that stalls out for plenty of ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. Preview this article 1 min The IRS is raising the standard ...

The optional standard mileage rate for automobiles driven for business will increase 3 cents in 2025, the Internal Revenue Service said Thursday, but the mileage rates for vehicles used for other ...

Many drivers do not claim the mileage deduction on their federal income tax returns. Companies that reimburse their employees for mileage driven for business often follow the IRS mileage rate. Most ...

The Internal Revenue Service issued the 2026 optional standard mileage rates today for computing the deductible cost of operating an automobile for business, charitable, medical, or moving purposes.