2024 Mileage Rate Increase For 2024. 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. Canadian taxpayers should be aware of these rules when managing their business expenses to avoid any penalties from the cra.
The rate is now 67 cents per mile, which is 1.5 cents higher than the 2023 rate. The increase began on january 1 and raised the rate from 65.5 cents.
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