Irs Mileage Rate 2024 For Electric Vehicles

Irs Mileage Rate 2024 For Electric Vehicles. Irs mileage rate for electric, phev, gas, and diesel cars. 2,000 miles x $0.67 per mile = $1,340.

These rates allow individuals and businesses to calculate how much tax they can deduct for business. Using the irs standard mileage rate or set rate by an employer, you can calculate your total mileage for the year and multiply it to compute your annual mileage deduction.