Standard Mileage Rates for 2024

If you use a vehicle for business, charitable, medical, or moving purposes (Armed Forces on active duty), the rates used to calculate the deductible cost of its use have changed.  These rates apply to electric, hybrid, gasoline, and diesel-powered vehicles.

For 2024 the rates are:

• 67 cents per mile driven for business use, up 1.5 cents from 2023.

• 21 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces, a decrease of 1 cent from 2023.

• 14 cents per mile driven in service of charitable organizations; the rate is set by statute and remains unchanged from 2023.

If you have questions about any of this information, one of our knowledgeable accountants is happy to help.  At Hark and Associates, PC, we are here to provide high quality service with the highest ethical standards in the business of CPA firms.