2025 Mileage Deduction

Julia W Faulkner2025 2025 Mileage Deduction

2025 Mileage Deduction

2025 Mileage Deduction. For 2023, the standard mileage rate for the cost of operating your car for business use is 65.5 cents ($0.655) per mile. The tax year 2025 adjustments described below generally apply to income tax returns filed in 2025.


2025 Mileage Deduction

The standard mileage rates for 2023 are: The limit on deductible leasing costs will be increased to $1,050 from $950 per month, before tax, for new leases entered into on or after january 1, 2025.

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