The IRS increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business to 70 cents per mile driven, up 3 cents from 2024.
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. Driving costs have changed in 2024 due to some key factors and ...