The IRS increased the optional standard mileage rate ... costs of operating a vehicle for business to 65.5 cents per mile driven, up 3 cents from a rare midyear increase in 2022. The increased rate ...

The Internal Revenue Service has bumped up the 2023 optional standard mileage ... business reimbursement rate, effective Jan. 1, has risen 3 cents to 65.5 cents per mile driven for the use of ...

the IRS announced annual increases to the standard mileage rates organizations use to calculate the deductible costs of certain vehicle operations. The rate for business use of a car, van ...

New parents and taxes: 2023 tax season ... You can only use one method – the standard mileage rate or the business portion of actual expenses – for the same vehicle. " ...

Those filing 2023 returns in 2024, though, need to use the 2023 rate ... the standard mileage rate or the business portion of actual expenses — for the same vehicle. "Taxpayers always have ...

On Dec. 14, 2023, the agency announced a bump in the optional standard mileage rate starting ... park where you work. The ...

The mileage rate includes all incremental costs of operating a vehicle ... in 2023. The mileage rates are the same throughout ...

You can only use one method — the standard mileage rate or the business portion of actual expenses — for the same vehicle. The IRS rate reflects the cost to fill up your tank, as well as other ...

Mileage reimbursement is the process of compensating employees who use their ... whatever rate they deem appropriate. Any time an employee uses their personal vehicle for business purposes ...

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 from 2023. The increased rate ...