The standard reimbursement rate for 2024 is currently set to 67 cents per mile, which is 1.5 cents higher than it was for 2023, when it stood at 65.5 cents per mile. A standard rate applies to most of conus.
You can use this mileage reimbursement calculator to determine the deductible costs associated with running a vehicle for medical, charitable, business, or moving. The charitable rate is not indexed and remains 14 cents per mile.
Not All Of The Rates For 2024 Will Increase, However.
Washington โ the internal revenue service today issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
The Mileage Reimbursement Is For The Use Of Cars Such As.
From 1 june 2024, the advisory electric rate for fully electric cars will be 8 pence per mile.
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67 Cents Per Mile For Business Purposes (Up 1.5 Cents From 2023).
Hybrid cars are treated as either petrol or diesel cars for advisory fuel rates.
What Type Of Travel Expenses Can Be Reimbursed In India?