Standard Mileage Rate For Tax Year 2024. For automobiles a taxpayer uses for business purposes, the portion of the business standard mileage rate treated as depreciation is 27 cents per mile for 2020, 26. The 2024 irs standard mileage rates are 67 cents per mile for every business mile driven, 14 cents per mile for charity and 21 cents.
The irs mileage rate lets employees drive personal vehicles for work and get tax deductions or reimbursements. See section 5 of rev.