Irs 2024 Mileage Deduction. On december 14, 2023, the irs issued the standard mileage rate for 2024, which will be 67 cents per mile for business use, up 1.5 cents from 2023. If you use your car for business, charity, medical or moving purposes, you may be able to take a deduction based on the mileage used for that purpose.
Using the standard mileage rate method with these same numbers, the driver would multiply the number of miles driven for business (30,000) by the standard mileage rate (65.5 cents per mile for. It is important to note that under the tax cuts and jobs act, taxpayers cannot claim a miscellaneous itemized deduction for unreimbursed employee travel expenses.
