Moceri Minute

The IRS has come out with the 2024 mileage rates and they are as follows:

• 67 cents per mile driven for business use
• 21 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces
• 14 cents per mile driven in service of charitable organizations

These rates apply to electric, hybrid-electric, and gas vehicles. Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates. 

Contact us if you have any questions regarding this matter.