The Post

On Dec. 14, 2023, 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.

Effective Jan. 1, 2024, the standard mileage rates for the use of a car will be:

• 67 cents per mile driven for business use, up 1.5 cents from 2023.
• 21 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces, a decrease of 1 cent from 2023.
• 14 cents per mile driven in service of charitable organizations; the rate is set by statute and remains unchanged from 2023.

These rates apply to electric and hybrid-electric automobiles, as well as gasoline and diesel-powered vehicles.

If you have any questions or concerns, please reach out to Angelina Bates in the Controller’s Office (abates@niagara.edu).