Date: February 23, 2024Attorney: Martin D. Hauptman

Stay ahead of the curve with the newly released standard mileage rates for 2024, provided by the IRS. Whether you’re calculating deductible costs for business, charitable, medical, or moving purposes, these rates are here to guide you accurately.

Effective January 1st, 2024, the standard mileage rates for the use of a car (including vans, pickups, or panel trucks) are as follows:

  • 67 cents per mile driven for business use, an increase of 1.5 cents from the previous year.
  • 21 cents per mile driven for medical or qualified moving purposes, a decrease of 1 cent from 2023.
  • 14 cents per mile driven in service of charitable organizations. This rate, set by statute, remains unchanged from 2023.

Additionally, the Notice includes crucial information such as the maximum automobile cost for fixed and variable rate (FAVR) plans and the maximum fair market value of employer-provided automobiles for fleet-average valuation or vehicle cents-per-mile valuation.

Keep your operations streamlined and compliant by staying informed with the latest IRS standards for mileage rates. Stay tuned for more updates and insights on navigating tax regulations effortlessly.

For additional details and tax advice, please contact Martin D. Hauptman at (973) 243-7912 or via email at