2022 IRS Mileage Rate: What to Expect

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2022 mileage rate
What is the 2022 mileage rate? Read on to find out.

On December 17th, 2021, the IRS announced the 2022 IRS mileage rates.
The 2022 mileage rates are the rates you use to calculate your mileage expenses for business miles driven starting on Jan 1, 2022.

The 2022 IRS mileage rates are:

Business: 58.5 cents per mile (up 2.5 centers per mile from the 2021 rate)
Charitable: 14 cents per mile (this rate is set by a statute and remains unchanged from 2021)
Medical or moving: 18 cents per mile (up 2 cents from the 2021 rate)

The 2021 IRS mileage rate amounts are:

Business: 56 cents per mile (down from 57.5 cents from 2020)
Charitable: 14 cents per mile (down from 17 cents from 2020)
Medical & moving: 16 cents per mile (down from 20 cents from 2020)

The 2021 IRS mileage rates are the rates you would multiply by all the tax-deductible miles you drove in 2021 to calculate your 2021 mileage tax deduction amount.

How to Use IRS Mileage Rate Tax Deduction Amounts

There are two methods a taxpayer can use to calculate business use car tax deductions. The taxpayer must choose one, you cannot use both at the same time. It’s up to the taxpayer to choose which one is best for them.

  1. the IRS standard mileage rate method
  2. the IRS actual expense method

The IRS mileage rate tax write-off amounts only apply to the first method, the Standard Mileage Rate Method. Therefore, you do not need this chart if you are using the Actual Expense Method. For a detail of the two different methods, and what is required of each method, please check out the following article:
How To Maximize Business Use Car Tax Deductions: Standard Mileage Rate Method vs Actual Expense Method

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Check out the following articles about Falcon Expenses features and services:

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