IRS Boosts 2025 Business Mileage Rate to 70 Cents per Mile SDA CPA Group

Mileage 2025 Business Insider. Standard Mileage Rates for Business Use in 2025 KerberRose Notice 2025-5 provides that beginning January 1, 2025, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 70 cents per mile driven for business use (up 3 cents from 2024) 21 cents per mile driven for medical purposes (unchanged from 2024) Self-employed individuals can claim business mileage on a tax return

Employees and taxpayers may still track mileage for non-business purposes: Medical Mileage: Eligible for trips to and from medical appointments, therapy, or treatment. The IRS has increased the optional standard mileage rate for automobiles driven for business to 70 cents per mile for 2025

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Self-employed individuals can claim business mileage on a tax return For automobiles a taxpayer uses for business purposes, the portion of the business standard mileage rate treated as depreciation is 26 cents per mile for 2021, 26 cents per mile for 2022, 28 cents per mile for 2023, and 30 cents per mile for 2024, and 33 cents per mile for 2025 Optional standard milage rates are used to calculate the deductible costs of operating vehicles for.

Are We in a Recession? Where the US Economy Is Headed in 2025. Note that the rates apply to electric, hybrid, gas, and diesel-powered vehicles. For automobiles a taxpayer uses for business purposes, the portion of the business standard mileage rate treated as depreciation is 26 cents per mile for 2021, 26 cents per mile for 2022, 28 cents per mile for 2023, and 30 cents per mile for 2024, and 33 cents per mile for 2025

2025 IRS Business Mileage Rate of 70 Cents Powered by Motus Cost Data and Analysis Motus. The IRS has announced the optional 2025 standard mileage rates for business, medical, and other uses of an automobile, and the 2025 vehicle values that limit the application of certain rules for valuing an automobile's use The Internal Revenue Service has once again set and released the optional standard mileage rate for business travel mileage reimbursement for the upcoming year