Will the standard business mileage rate go up in 2022? Yes!

Business Deductions, Business Mileage, Depreciation, Employees, Income Tax, Small Business, Standard Business Mileage Rate, Tax Deduction, Vehicle Expenses /

After two years of no increases, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up in 2022 by 2.5 cents per mile. The IRS recently announced that the cents-per-mile rate for the business use of a car, van, pickup or panel truck will […]

Will the standard business mileage rate go up in 2022? Yes! Read More »