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What is the Federal Mileage Rate?
IRS-set federal mileage rates are used to calculate the deductible costs of driving a car for moving, business, charitable, or medical purposes. Standard mileage rates will be as follows in 2024:
- Business miles driven: 65.5 cents per mile
- Medical or moving purposes: 22 cents per mile
- Charitable organizations: 14 cents per mile
Since these rates can change every year, it is a good idea for you to consult a tax expert or check the IRS website to see the latest rates.
What is the Current Federal Mileage Rate?
The federal mileage rates in 2024 are:
- 67 Cents per Mile For Business Use (up 1.5 cents since 2023)
- 21 Cents per Mile For medical or moving reasons for active-duty military members who qualify (down by 1 cent since 2023)
- 14 Cents per mile for charitable organizations (unchanged).
These rates apply to all types of vehicles, including electric and hybrid cars (IRS).
Also See: Federal Income Tax Withholding (FITW)
