Irs Business Travel Mileage Rate 2024. The irs sets new standard mileage rates each. Personal use of a vehicle.

Most employers use the hmrc approved mileage allowance payment (amap) rates when reimbursing employees for the cost of business travel in a privately owned car. If you’ve traveled 350 miles in a month, and 150 of them are business miles, you can calculate your mileage by simply multiplying the business miles traveled by the standard irs rate for the year (67 cents/mile for 2024).