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flag The IRS raises the standard mileage rate for business vehicle use to 70 cents per mile starting 2025.

flag The IRS announced a new standard mileage rate for business vehicle use, increasing it to 70 cents per mile starting January 1, 2025. flag This rate, up from 67 cents in 2024, is based on a study by Motus, which examines car costs including insurance, maintenance, repairs, and fuel. flag The rate applies to all vehicle types and helps employers with tax-free reimbursements, though taxpayers can still opt to calculate actual costs.

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