2024 Mileage Reimbursement Rate 2024 Lok. According to the irs, the mileage rate is set yearly “based on an annual study of the fixed and variable costs of operating an automobile.” here. Rates are reviewed on a quarterly basis.
The internal revenue service issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. * airplane nautical miles (nms) should be converted into statute miles (sms) or.