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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.
For the 2022 tax year (taxes filed in 2023), the IRS standard mileage rates are: 65.5 cents per mile for business. 14 cents per mile for charity. 22 cents per mile for medical purposes or moving purposes for qualified active-duty members of the armed forces.
Find standard mileage rates to calculate the deduction for using your car for business, charitable, medical or moving purposes.
Calculate your mileage reimbursement with ease using our mileage reimbursement calculator. Learn the basics of mileage reimbursement and deduction rates.
12 sty 2024 · To use the standard mileage method, keep track of the miles you drive for business throughout the tax year and multiply that number by the standard mileage rate. The standard mileage rate for 2023 is 65.5 cents per mile. This amount increases to 67 cents per mile for 2024.
13 wrz 2022 · Business Mileage Deduction FAQs for Small Businesses. By Jean Murray. Updated on September 13, 2022. Fact checked by Yasmin Ghahremani. In This Article. View All. Common Questions about Business Driving - Answered. Photo: UpperCut Images/Getty Images.
18 gru 2023 · To find out your business tax deduction amount, multiply your business miles driven by the IRS mileage deduction rate. Let’s say you drove 30,000 miles for business in 2023. Multiply 30,000 by the mileage deduction rate of 65.5 cents (30,000 X $0.655).
