For the 2024 tax year, the Internal Revenue Service (IRS) has set the standard mileage rate for business use of a car at 67 cents per mile. This rate is designed to cover the costs associated with operating a vehicle for business purposes, including:
Fuel and oil
Maintenance and repairs
Tire costs
Insurance
Vehicle registration fees
Depreciation
This standard rate simplifies the process for many taxpayers and businesses, eliminating the need to track individual expenses for each trip. If you use your personal vehicle for business-related travel, you can deduct the miles driven. This calculator helps you quickly determine the total reimbursement amount you are eligible for based on the miles you've driven and the official 2024 rate.
Important Note: This standard mileage rate is for the use of a car, light truck, or van. It does not include parking fees, tolls, or interest on a car loan, which can be deducted separately if you choose to use the standard mileage rate. Alternatively, you can choose to deduct your actual expenses, which involves tracking all operating costs.
How to Use the Calculator:
Enter the total number of miles you have driven for business purposes in 2024 into the "Miles Driven (2024)" field.
The "2024 Standard Mileage Rate" is pre-filled with the official IRS rate of $0.67 per mile for 2024.
Click the "Calculate Reimbursement" button.
The calculator will display your total eligible mileage reimbursement amount.
Example Calculation:
Let's say you drove 1,500 miles for business in 2024. Using the 2024 standard mileage rate of $0.67 per mile:
Total Reimbursement = Miles Driven × Standard Mileage Rate
Total Reimbursement = 1,500 miles × $0.67/mile = $1,005.00
This calculator will perform this exact calculation for you.