Effective January 1, 2025, the IRS has increased the reimbursement rate for mileage deductions and reimbursements. According to the new rules, taxpayers will be able to claim:
- 70 cents per mile for business use.
- 14 cents per mile for charitable purposes.
- 21 cents per mile for medical purposes.
Please note that you must keep careful track of mileage for these purposes. We recommend a simple notebook, kept in the glove compartment of your vehicle, or using screenshots of the projected distance and reimbursements from a site such as MapQuest.
If you need help preparing your taxes, please feel free to reach out.
