The Internal Revenue Service on Thursday announced that the 2025 standard mileage rate will go up by 3 cents per mile to 70 ...

Taxpayers who claim the standard mileage rate deduction for the miles they log for business purposes will be able to write ...

Standard mileage rates are used to calculate the amount of a deductible business, moving, medical, or charitable expense (miles driven times the applicable rate). Taxpayers using the standard ...

The IRS standard mileage deduction for vehicle business use applies in 2025 whether you drive an all-electric, hybrid or standard gasoline-powered vehicle.

A basic explainer of the business mileage standard rate, plus a look at what led the IRS to change the rate this year.

These mileage rates apply only to those expenses incurred or paid by a taxpayer on or after January 1, 2025 (and if reimbursed by an employer on or after that date). Expenses incurred prior to ...

And only taxpayers who are members of the military on active duty may claim a deduction for moving expenses incurred while relocating under orders to a permanent change of station. Use of the standard ...

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 ...

Then, in later years, they're allowed to choose to use the standard mileage rate or actual expenses. For a leased vehicle, taxpayers using the standard mileage rate must employ that method for the ...