Mileage 2025 Business Insider. Business Mileage Rate Is Up for 2025 The rates are used to determine the deductible costs of using a vehicle for business, charitable, medical, or moving purposes WASHINGTON — The Internal Revenue Service today announced that the optional standard mileage rate for automobiles driven for business will increase by 3 cents in 2025, while the mileage rates for vehicles used for other purposes will remain unchanged from 2024.
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A new year will mean a new, slightly higher standard mileage rate for 2025. The rates are used to determine the deductible costs of using a vehicle for business, charitable, medical, or moving purposes
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Employees and taxpayers may still track mileage for non-business purposes: Medical Mileage: Eligible for trips to and from medical appointments, therapy, or treatment. The IRS has released (Notice 2025-5) the 2025 standard mileage rates Optional standard milage rates are used to calculate the deductible costs of operating vehicles for.
Are We in a Recession? Where the US Economy Is Headed in 2025. The rates are used to determine the deductible costs of using a vehicle for business, charitable, medical, or moving purposes Note that the rates apply to electric, hybrid, gas, and diesel-powered vehicles.
IRS Issues Standard Mileage Rates for 2023 Mandelbaum Barrett PC. This 3-cent hike reflects ongoing increases in vehicle-related expenses The IRS changed the IRS mileage reimbursement rate for 2025