Mileage rates for travel are now in place for 2024. The standard business mileage rate increases by 1.5 to 67 cents per mile. The medical and moving mileage rates are now 21 cents per mile. Charitable mileage rates remain unchanged at 14 cents per mile.

Standard mileage rates for 2024

• Business travel: 67 cents per mile
• Medical/moving: 21 cents per mile
• Charitable work: 14 cents per mile

2023 mileage rates for reference

• Business travel: 65.5cents per mile
• Medical/moving: 22 cents per mile
• Charitable work: 14 cents per mile

Other considerations

• These rates apply to gas, electric, hybrid-electric, and diesel-powered vehicles
• You cannot claim mileage as an itemized deduction as an employee who does not receive reimbursements for travel expenses
• A mileage deduction for moving expenses is not available to you unless you are an active Armed Forces member who must move to a new permanent duty station

Remember to properly document your mileage to receive full credit for your miles driven. Check out our previous blog post, “Your business mileage deduction just became more valuable,” for tips on how to make the most of your business’s vehicle expense deduction. Contact our RRBB advisors for questions about the new standard mileage rates.