Skip to main Content

blogs / 13 JUN 2022

IRS Increases Business Mileage Rate Effective July 2022

Cartus Communications

Blog Image

Last week, the Internal Revenue Service announced a 4-cent increase in both the standard business mileage rate and the move mileage rate effective July 1. For business miles traveled January 1 through June 30, the standard rate is 58.5 cents a mile. From the period of July 1 through December 31, 2022, the rate increases to 62.5 cents a mile. The move mileage rate, which is applicable to active military and some non-conforming states, increases to 22 cents a mile for miles traveled July 1 through December 31, up from 18 cents a mile for miles traveled from January 1 through June 30. Travel for charitable purposes remains at 14 cents a mile. As before, taxpayers always have the option of calculating the actual costs of using their vehicle (gas, oil, tires, etc.) rather than using the standard business mileage rate as a business deduction. As a reminder, other car expenses such as parking fees and tolls attributable to business use are separately deductible. For more information, please see the IRS website.

Author Image

Cartus Communications

Cartus is the trusted industry leader, offering guidance on a wide range of topics related to global relocation using expertise gained through more than four million moves and a diverse client base.