In June 2022, the IRS announced an increase in the optional standard mileage rate for the final six months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain other purposes. These new rates become effective 7/1/2022. Mandelbaum Barrett PC Tax Law Partner Martin D. Hauptman, Esq. is available to answer any questions you may have.
Read the full IRS announcement: https://bit.ly/3ncQLxs