The IRS has issued the 2024 optional cents-per-mile rates used to calculate the tax-deductible costs of operating a vehicle. Effective Jan. 1, 2024, the standard mileage rate for the business use of a car (including vans, pickups, and panel trucks) is 67 cents per mile. (This is up from 65.5 cents per mile for 2023.) The 2024 rate for medical or eligible moving purposes is 21 cents per mile. (For 2023, the medical and moving rate was 22 cents per mile.) For charitable driving, the 2024 rate is 14 cents per mile (unchanged from 2023). Note that these rates apply to electric and hybrid-electric automobiles as well as gasoline and diesel-powered vehicles. Contact us for more information.