The IRS is bumping up a travel tax deduction available for taxpayers following an increase in vehicle expenses this year.
If a vehicle is used for business, charity, or medical purposes, the costs are typically deducted on tax returns. The IRS periodically sets the amount that taxpayers can deduct per mile for such expenses, also called the standard mileage rate. Next year, the rate for vehicles driven for business purposes will increase by $0.0…

The Epoch Times

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United States

IRS Raises Tax Deduction for Business Use of Vehicles by Nearly 4.5 Percent

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WASHINGTON, December 19, 2024 — 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. Optional standard milage rates are used to calculate the deductible costs of operating […] The post IRS increases the standard mileage rate for business use in 2025; ke…

YubaNet

IRS increases the standard mileage rate for business use in 2025; key rate increases 3 cents to 70 cents per mile

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.  Optional standard milage rates are used to calculate the deductible costs of operating vehicles for business,...

MasonWebTV.com

IRS increases the standard mileage rate for business use in 2025; key rate increases 3 cents to 70 cents per mile  – MasonWebTV.com

The Internal Revenue Service issued the 2025 optional standard mileage rates today for computing the deductible cost of operating an automobile for business, charitable, medical, or moving purposes. The most notable change is the per mile increase for business use mileage. Effective January 1, 2025, the optional 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.  …

WisLawNOW

IRS Releases New Mileage Rates for 2025

The Internal Revenue Service (IRS) has announced a new standard mileage rate for 2025, increasing by 3 cents to 70 cents per mile compared to the previous year. 2025 IRS Mileage Reimbursement Rates The updated mileage rates are as follows: 
Business Use: The rate is set at 70 cents per mile, reflecting a 3-cent increase. This rate applies to vehicles used for business purposes, including cars, vans, pickups, and panel trucks. Charitable Organiza…

ecnetnews.com

IRS Mileage Reimbursement Rate Increases by 3 Cents for 2025

The optional standard mileage rate for automobiles driven for business will increase 3 cents in 2025, but the mileage rates for vehicles used for other purposes will stay unchanged.

Accounting Today

IRS boosts standard mileage rate for 2025

The Internal Revenue Service (IRS) has released the standard mileage rates for 2025. It’s jumped 3 cents per mile over 2024, now at 70 cents. 2025 IRS Mileage Reimbursement Rates The updated rates for 2024 are as follows: 
Business Use: The rate has been set at 70 cents per mile, a 3-cent increase from the 2024 rate. This rate is applicable for automobiles used for business purposes, including cars, vans, pickups, and panel trucks. Charitable Or…

Small Business Trends

IRS Mileage Reimbursement Rate Jumps 3 Cents for 2025

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.

CPA Practice Advisor

IRS Raises Standard Mileage Rate to 70 Cents Per Mile in 2025

BOSTON, Mass., December 19, 2024 – The Internal Revenue Service (IRS) has unveiled the 2025 business mileage standard rate of 70 cents, leveraging data from Motus¹, the leader in vehicle reimbursement and driver risk mitigation solutions. By analyzing key automotive trends from the preceding year, Motus leverages its expertise to provide critical insights that have supported the IRS mileage rate since 1981.  The 2025 business mileage standard ra…

IRS Raises Tax Deduction for Business Use of Vehicles by Nearly 4.5 Percent

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