Standard Mileage Rate For Tax Year 2024. 17 rows page last reviewed or updated: The irs increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business to 67 cents per mile driven, up 1.5 cents.

The 2024 irs mileage rates have been set at 67 cents per mile to accommodate the economic changes over the past year. 67 cents per mile for business purposes.