Question 1

What is the IRS standard mileage rate for 2024?

Accepted Answer

The IRS standard mileage rate for business use is $0.67 per mile for 2024, per IRS Rev. Proc. 2023-34. This rate is reviewed and updated annually.

Question 2

Can rideshare drivers deduct all miles driven?

Accepted Answer

Rideshare drivers can deduct miles driven for business purposes — this includes miles with a passenger, miles driving to pick up a passenger, and deadhead miles between rides. Personal miles are not deductible.

Question 3

Should I use the standard mileage rate or actual expenses?

Accepted Answer

Most rideshare drivers benefit more from the standard mileage rate because it is simpler and typically results in a larger deduction. Use the actual expense method only if your vehicle costs significantly exceed the standard rate calculation.

Question 4

How do I track my mileage for taxes?

Accepted Answer

Use a mileage tracking app like Stride, Everlance, or MileIQ that runs in the background. Keep records of dates, destinations, and business purpose for every trip. The IRS requires contemporaneous records.

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