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.

The IRS has not announced the new Standard Mileage rates for 2022. However, when they do we will update them here. So please bookmark this post.

The 2021 IRS mileage rate amounts are:
Business: 56 (down from 57.5 cents from 2020)
Charitable: 14 (down from 17 cents from 2020)
Medical & moving: 16 (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

About Falcon Expenses

Falcon Expenses is a top-rated mobile application for self employed and small businesses to track expenses and tax deductions. Falcon customers record $6,600, on average, in annual tax deductions. Get started today. The longer you wait, the more tax deductions you miss out on.

Automatically track mileage expenses and expenses, keep an odometer log, receipt vault and log billable hours. Quickly organize expenses by time period, project, or client. Easily prepare reports for email to anyone in PDF or spreadsheet formats, all from your phone. Use for keeping track of tax deductions, reimbursements, taxes, record keeping, and more. Falcon Expenses is great for self-employed, freelancers, realtors, business travelers, truckers, and more. Find out more, here.

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Brooke Sugarman

I used to travel a lot for work. Doing my expenses frustrated me. I would delay submitting them and when I did, I would spend hours taping receipts to paper to scan for my boss. I knew there was a better solution, and I had a background in productivity software, so I created Falcon Expenses. I enjoy creating software that makes people's lives easier. In addition, I'm an avid skier and I enjoy hiking, sailing, and cooking.

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