Business Mileage Rate 2024. Irs issues standard mileage rates for 2024; The irs bumped up the optional mileage rate to 67 cents a mile in 2024 for business use, up from 65.5 cents for 2023.

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 internal revenue service (irs) has released the optional standard mileage rate for 2024.