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For the final six months of 2022, the standard mileage rate for business travel was 62.5 cents per mile, up 4 cents from the rate effective at the start of 2022. The new rate was implemented to ...
Truck drivers get the standard mileage rate of 65.5 cents per mile. This rate increased from 62.5 cents per mile as of January 2023. To figure out your deduction, take the number of miles driven ...
The IRS standard mileage rate is a key benchmark used by the federal government and many businesses to reimburse employees for out-of-pocket expenses. ... 2022, and it had hit as high as $5.027 a ...
The Internal Revenue Service announced an increase in the standard mileage rates when people use their vehicles for business use. The standard mileage deduction rose to 67 cents per mile, up 1.5 ...
On Dec. 29, the agency announced a bump in the optional standard mileage rate starting Jan. 1, 2023 — which will now be 65.5 cents per mile driven. Taxpayers can use the new rate to calculate ...
In 2022, the rate was 58.5 cents per mile in the first half of the year and 62.5 cents in the second half -- but $0.60 per mile goes a lot farther in some states than others.
According to Kelley Blue Book, the average cost of a used car in October 2023 was $26,533, while a new car could be bought for the average price of $48,334. Even with those seemingly high rates ...
As an example, credit bureau Experian said that in the second quarter of 2022, borrowers with super prime credit scores — 720 or above — paid an interest rate of 2.96% for new vehicles and 3. ...