Standard Business Mileage Rate 2024. The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business went up by 1.5 cents per mile in 2024. You can calculate mileage reimbursement in three simple steps:

14, 2023, it covers the. The irs increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business to 67 cents per mile driven, up 1.5 cents.