IRS issues standard mileage rates for 2023; business use increases 3 cents per mile

[Elrod]

65.5 cents per mile driven for business use, up 3 cents from the midyear increase setting the rate for the second half of 2022.

22 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces, consistent with the increased midyear rate set for the second half of 2022.

14 cents per mile driven in service of charitable organizations; the rate is set by statute and remains unchanged from 2022.

https://www.irs.gov/newsroom/irs-issues-standard-mileage-rates-for-2023-business-use-increases-3-cents-per-mile

[Lee B]

It's interesting how the IRS trails the changes in gas prices. I remember paying $5.65 per gallon in the second week of June.

Today I paid $3.79 per gallon. On the other hand, Auto Insurance Premiums are rising and the cost of auto repairs have really gone up!

[Catherine]

On 12/30/2022 at 4:39 PM, cbslee said:

the cost of auto repairs have really gone up!

And the wait for parts can be a lot longer too.