IRS to Raise Mileage Rate for Rest of 2022

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In the wake of elevated gas prices, the IRS is increasing the optional standard mileage rate for the remaining months of 2022. These rates allow businesses and self-employed workers to calculate the deductible costs of using personal vehicles for business. Deductions could also be calculated using the actual cost of vehicle operation instead of the standard rate. Here are a few tips to help ease tensions when asking a board member to resign.

New rates and when they start 

As of July 1st, 2022, businesses can write off 62.5 cents per mile. Travel through January 1st-June 30th adheres to the IRS’s original rates, which can be seen here.

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