2024 IRS Mileage Rate Increase

These rates apply to electric and hybrid-electric automobiles, gasoline, and diesel-powered vehicles.
Do I have to pay my employee to run to the bank or pick up coffee for the office break room? Yes, you do!  And while you may know that California’s minimum wage increased on January 1 this year, did you know that the standard mileage rate to reimburse employees for business travel also increased?
 
On December 14, 2023, the agency announced the following rates for 2024 business travel:
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; the rate is set by statute and remains unchanged from 2023.

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