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Calculate your deductible costs for using your vehicle for work, charity, medical, or moving purposes. Enter the number of miles driven and select your tax year to get the reimbursement amount based on the IRS standard mileage rates.
Mileage Calculator. The mileage calculator app helps you find the driving distance between cities and figure out your reimbursement using the latest IRS standard mileage rate of 67¢ as of January 1, 2024.
Calculate your mileage reimbursement for business, medical, moving or charitable purposes using the standard mileage rates from IRS. Enter your miles driven and get an estimate of your deduction amount for the tax year.
The general formula for mileage reimbursement is: Reimbursement amount = mileage rate x business miles driven For example, if a person reported 150 business miles driven, the equation would look like this: $100.50 = 67 cents x 150 business miles
Instructions. This calculator can help you track you mileage and can accommodate 2 different rates. Enter your data and then look for the Total Reimbursement amount at the bottom.
20 gru 2023 · In those 500 miles, you did 5 business trips that totaled 100 miles. To calculate your business share, you would divide 100 by 500. 100/500 = 0.20. Your business mileage use was 20%. Now to calculate the mileage deduction. Simply multiply the business miles by the mileage rate. 100 * 0.56 = $56 tax deduction in 2021
You can calculate mileage reimbursement in three simple steps: Select your tax year. Input the number of miles driven for business, charitable, medical, and/or moving purposes. Click on the "Calculate" button to determine the reimbursement amount. Understanding Mileage Reimbursement.
