ASK NAT, TAX PROFSSIOAL I’m in outside sales and I drive a lot for my job-is there any relief for travel allowance in 2024?
ANSWER Yes, just today, the IRS issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable work and medical or moving purposes.
Beginning on Jan. 1, 2024, the standard mileage rates for the use of a car, van, pickup or panel trucks will be:
- 67 cents per mile driven for business use, up 1.5 cents from 2023.
- 21 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces, a decrease of 1 cent from 2023.
- 14 cents per mile driven in service of charitable organizations. Holiday Pay or Not?
