What Is The Mileage Rate For 2024. The rates are used to determine the deductible costs of using a vehicle for business, charitable, medical, or moving purposes. * airplane nautical miles (nms) should be converted into statute miles (sms) or regular miles when submitting a voucher using the formula (1 nm equals 1.15077945 sms).

Mileage rate increases to 67 cents a mile, up 1.5 cents from 2023. The irs bumped up the optional mileage rate to 67 cents a mile in 2024 for business use, up from 65.5 cents for 2023.