Friday, June 10, 2022

Standard Mileage Rate increase

 The standard mileage rate has been risen to 62.5 cents for the remainder of the year.

58.5¢ to 62.5¢ per mile

For the second half of 2022, the standard mileage rate for business use of an automobile will increase from 58.5¢ to 62.5¢ per mile. The rates for deductible medical travel and moving expenses for active-duty members of the military will rise from 18¢ to 22¢ per mile.