Law & Order

IRS Sets Standard Mileage Rate for 2022

By SEMA Washington, D.C., Staff

The Internal Revenue Service has set the standard business-mileage deduction at 58.5 cents per mile for 2022, up 2.5 cents from the 2021 rate. The mileage calculation includes the cost of fuel, along with other vehicle fixed and variable operating expenses, such as depreciation, insurance, tires etc.

Companies and individuals who use their automobiles (including vans, pickups and panel trucks) for business have the option of using the standard rate in lieu of keeping records of their actual expenses.

For more information, contact Caroline Fletcher at