IRS Issues Standard Mileage Rates for 2023

The IRS recently issued the optional standard mileage rates for 2023, used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Effective January 1, 2023, the standard mileage rate for business use of a car (also vans, pickups or panel trucks) will be $0.655, which is a 3 cent increase from the second half of 2022. Click here for the IRS announcement.