admin What Is The Business Mileage Rate For 2024 – T axpayers who claim the standard mileage rate deduction for the miles they log for business purposes will be able to write off 67 cents per mile in 2024, the IRS recently announc . Effective Jan. 1, the mileage rate for Purdue University business travel using a privately owned vehicle is $0.67 per mile, up from $0.655 per mile in 2023. The rate is based on both fixed and .
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What Is The Business Mileage Rate For 2024 The 2024 IRS Mileage Rates | MileIQ: As defined by the Internal Revenue Service, the optional standard mileage rate for 2012 is 55.5 cents per mile. The rate is defined as optional because a business or taxpayer might, instead . The rate for medical and moving purposes is based only on the variable costs. If you are deducting mileage as a business expense on your income taxes, the travel must be strictly for business .
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