🚗💼 The IRS has raised the standard mileage rate for 2025 to 70 cents per mile for business use, which applies to cars, vans, pickups, and panel trucks, including electric and hybrid vehicles. The mileage rate for charitable organizations remains at 14 cents per mile. Taxpayers can either use the standard mileage rate or calculate the actual costs of operating their vehicles. Self-employed individuals can claim business mileage, but employees cannot deduct these expenses unless reimbursed by th
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The Internal Revenue Service (IRS) has unveiled the 2025 business mileage standard rate of 70 cents, leveraging data from Motus! 🚙 The 2025 business mileage standard rate increased to 70 cents from the 2024 rate of 67.0 cents and will go into effect January 1, 2025. What do you think about the new business mileage standard rate? Let us know in the comments! ⬇️ | Motus
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IRS increases standard business mileage rate for 2025
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