2024 Mileage Rate Increase For Employees. The 2024 business mileage rate has increased to 65.5 cents per mile, a rise of 1.5 cents from the previous year. On december 14, 2023, the internal revenue service (irs) announced an increase in the optional standard mileage rate for tax year 2024.
67 cents per mile driven for business use, up. Utilizing the irs mileage reimbursement rate for your employees is smart and easy because it covers all expenses including gas, insurance, and vehicle maintenance.
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