Beginning January 1, 2024, the standard mileage rates for cars, vans, pickups, and panel trucks will be 67 cents per mile for business purposes, 21 cents per mile for medical or moving purposes for qualified active-duty members of the Armed Forces, and 14 cents per mile for charitable purposes.
The portion of the business standard mileage rate treated as depreciation is 27 cents per mile for 2020, 26 cents per mile for 2021 and 2022, 28 cents per mile for 2023, and 30 cents per mile for 2024. When computing the allowance under a Fixed and Variable Rate (FAVR) plan, the standard vehicle cost cannot exceed $62,000 for autos, trucks, or vans. The same value is used for purposes of the fleet average and vehicle cents-per-mile valuation rules.
