Mileage Rate 2024 Crash. The internal revenue service has issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or. The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents per mile in 2024.
The rate has increased by 1.5 cents and is now 67 cents per mile. Effective january 1, 2024, the standard mileage rate for business vehicle use has increased to 67 cents per mile, up from the 2023 rate of 65.5 cents per mile.