The IRS recently released Notice 2024-08, which updated 2024 Standard Mileage rates starting January 1, 2024.

The following 2024 mileage rates are as follows:

• Business Mileage Rate – 67 cents per mile, up 1.5 cents
• Medical Mileage Rate – 21 cents per mile, down 1 cent

The following Journal of Accountancy Article provides other details regarding business and employer-provided business vehicles.  If you have any questions, please reach out to your tax advisor.

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