Mileage Rate Update

The Internal Revenue Service has announced the 2024 standard mileage rates for operating an automobile for business, charitable, medical, or moving purposes. As of January 1, 2024, the standard mileage rates for the use of a vehicle are:

• 67 cents for every mile of business travel driven (up 1.5 cents from 2023),

• 21 cents per mile for medical or moving purposes (down 1 cent from 2023), and

• 14 cents per mile driven in service of charitable organizations (same as 2023).

You can find information about deducting mileage costs as a minister in NBUSA Memo #11 – Auto and Other Business Expense Reimbursements.