What Is The Business Mileage Rate For 2024. 67 cents per mile driven for business use, up 1.5 cents. Here's our guide to properly apply that rate to your.
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 standard mileage rate will increase to 67ยข per mile for business miles driven beginning january 1, 2024, up from 65.5ยข in 2023.