IRS raises tax deduction mileage rate for 2025

IRS mileage rate for business goes up to 70 cents a mile in 2025
A new year will mean a new, slightly higher standard mileage rate for 2025. The Internal Revenue Service on Thursday announced that the 2025 standard mileage rate will go up by 3 cents per mile to 70 cents for the optional mileage rate for automobiles driven for business.
IRS Announces Standard Mileage Rates For 2025
The IRS has announced its 2025 standard mileage rates. Standard mileage rates are used to calculate the amount of a business, moving, medical, or charitable expense.
IRS Raises Standard Mileage Rate To 70 Cents for 2025
Source: The College Investor The IRS just released their standard mileage rates for 2025. There was an increase of 3 cents from 2024 for the standard business rate, while medical, moving, and charity rates remained the same.
2025 IRS mileage rate increasing to 70 cents per mile starting in January
The Internal Revenue Service is increasing the "optional standard mileage rate" used to calculate tax deductions by 3 cents a mile for 2025. The big picture: The increase goes into effect Jan. 1, 2025,
IRS Releases New Mileage Rates for 2025
The Internal Revenue Service issued the 2025 optional standard mileage rates today for computing the deductible cost of operating an automobile
IRS boosts standard mileage rate for 2025
The optional standard mileage rate for automobiles driven for business will increase 3 cents in 2025, the Internal Revenue Service said Thursday, but the mileage rates for vehicles used for other purposes will stay unchanged from this year.
Business standard mileage rate increases for 2025
The IRS increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business to 70 cents per mile driven, up 3 cents from 2024.
2025 IRS Business Mileage Rate of 70 Cents Powered by Motus Cost Data and Analysis
BOSTON, December 19, 2024--(BUSINESS WIRE)--The Internal Revenue Service (IRS) has unveiled the 2025 business mileage standard rate of 70 cents, leveraging data from Motus 1, the leader in vehicle reimbursement and driver risk mitigation solutions.
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Mileage Reimbursement Rate for 2025: What To Expect
The IRS mileage reimbursement rate is a deduction you can take for using a vehicle for qualifying purposes. Find out if you qualify.
Tax Breaks: The Tax World Is Topsy-Turvy Edition
IRS funding, beneficial ownership information (BOI) report update, 2025 standard mileage rates, tax filing deadlines, and ...