The Internal Revenue Service ended 2024 with new regulations on reporting cryptocurrency transactions, amendments for ...
A basic explainer of the business mileage standard rate, plus a look at what led the IRS to change the rate this year.
Good news for those who are eligible to deduct business miles. Not so much for medical and moving miles. Posted: January 14, 2025 | Last updated: January 14, 2025 ...
The IRS standard mileage deduction for vehicle business use applies in 2025 whether you drive an all-electric, hybrid or standard gasoline-powered vehicle.
The IRS standard mileage rate is a key benchmark that's used by the federal government and used by many businesses to reimburse their employees for their out-of-pocket mileage expenses.
The Internal Revenue Service on Thursday announced that the 2025 standard mileage rate will go up by 3 cents per mile to 70 ...
That means the standard mileage rate for business use is now 70 cents per mile, up from 67 cents in 2024. However, the IRS said that its other standard mileage rates in 2025 will remain unchanged ...
You can listen to recorded messages covering more than 100 tax topics by calling the IRS TeleTax number, 1-800-829-4477. Topics include items such as: The standard mileage rate for transportation ...