Mileage Rate Update

In an attempt to help taxpayers and businesses, the IRS announced an increase to the standard mileage rate for business travel from 62.5 to 65.5 cents per mile.  The new rate went into effect on January 1, 2023.  The medical mileage rate will remain the same at 22 cents per mile as well as the charitable rate at 14 cents per mile.

See the IRS news release here.