Who is affected: Anyone that qualifies to deduct business use of an automobile. Generally, this is self-employed persons filing Schedule C and businesses
Due to the spike in gasoline prices last summer, the IRS increased the standard mileage deduction for the second half of 2022. If you deduct mileage, the allowance will be based on when the mileage was driven. For miles driven the first six months of the year the rate is 58 ½ cents per mile; for the second half the year the rate is 62 ½ cents per mile. Medical and allowable moving mile rate is 18 & 22 cents. Charitable mileage is 14 cents for the entire year.