IRS mileage rate for business goes up to 70 cents a mile in 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. That's up from 67 cents a mile in 2024. The new rate kicks in beginning Jan. 1 and it would apply to 2025 tax returns that would be filed in 2026.
IRS raises tax deduction mileage rate for 2025 by 3 cents
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, bringing the IRS rate to 70 cents per mile driven for business use, the federal agency announced in a statement Thursday.
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.
2025 IRS Business Mileage Rate of 70 Cents Powered by Motus Cost Data and Analysis
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.
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,
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