Business Mileage Rate 2024. 14 announced that the business standard mileage rate per mile is. The irs increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business to 67 cents per mile driven, up 1.5.

The 2024 mileage rate applies to all miles you drive starting january 1, 2024 through december 31. Effective january 1, 2024, the internal revenue service (irs) increased the optional standard mileage rate for business to 67 cents per mile.