New mileage rates announced by the IRS
Mileage rates for travel are now set for 2025. The standard business mileage rate increases by three cents to 70 cents per mile. The medical and moving mileage rates stay at 21 cents per mile. Charitable mileage rates remain unchanged at 14 cents per mile.
These rates apply to gas, electric, hybrid-electric and diesel-powered vehicles. You cannot claim mileage as an itemized deduction as an employee if you aren’t reimbursed for travel expenses.
Claiming a mileage deduction for moving expenses is not allowed unless you are an active member of the Armed Forces and are ordered to move to a new permanent duty station.
Remember to properly document your mileage to receive full credit for your miles driven.
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