What Is Current Mileage Rate 2025. 67 cents per mile for business purposes. The following lists the privately owned vehicle (pov) reimbursement rates for automobiles, motorcycles, and airplanes.
So we expect the irs to release the standard mileage rates for 2025 in december of 2024. 65.5 cents per mile for business miles driven.
Passenger Payments โ Cars And Vans.
Mileage allowance is payable to operatives and apprentices who use their own transport from the shop to their place of work and is free of tax.
Current Mileage Rate (2024) The Irs Standard Mileage Rates For 2024 Stand At:
For 2023, the following rates are in effect:
What Is Current Mileage Rate 2025 Images References :
The Rates Set Out Below Apply For The 2023/2024 Income Year For Business Motor Vehicle Expenditure Claims.
The 2024 standard mileage rate is 67 cents per mile, up from 65.5 cents per mile last year.