Mileage 2025 Business Insider. 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
2025 Business Miles Letti Olympia from gertabevangelia.pages.dev
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 Employees and taxpayers may still track mileage for non-business purposes: Medical Mileage: Eligible for trips to and from medical appointments, therapy, or treatment.
2025 Business Miles Letti Olympia
Note that the rates apply to electric, hybrid, gas, and diesel-powered vehicles. This announcement, which was made on December 19, 2025, applies to all. While the rise might seem modest, it can add up for businesses with employees who travel frequently.
2025 Business Miles Letti Olympia. 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) For 2025, the business standard mileage rate is 70 cents per mile (up from the 67-cent rate that applied during 2024).
2025 Business Mileage Deduction Dalila Devondra. WASHINGTON — The Internal Revenue Service today announced that the optional standard mileage rate for automobiles driven for business will increase by 3 cents in 2025, while the mileage rates for vehicles used for other purposes will remain unchanged from 2024. This 3-cent hike reflects ongoing increases in vehicle-related expenses