2022 Standard Mileage Rates Updated for Business Use of Vehicles

The IRS updated the standard mileage reimbursement rates for business use of a vehicle. The rate was increased to 58.5 cents per mile, updated from 56 cents per mile in 2021.

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DISCLAIMER: I am a licensed attorney and certified public accountant (CPA) in the State of Florida. I am not a financial advisor. The information provided in this video is for entertainment purposes only. No such communication is provided in the course of an attorney-client relationship, and no communication is intended to constitute legal advice. You should speak with your own tax and legal professionals to discuss your circumstances before performing any of the tax, legal, or accounting strategies demonstrated in this video. Thank you.