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20 gru 2023 · The standard IRS mileage rate for the business use of an employee’s personal automobile will increase on January 1, 2024, from 65.5 to 67 cents per mile. The state bargaining agreements and compensation plans base mileage reimbursement rates on the standard IRS mileage rate that’s in place at the time of travel.
Our calculator uses the latest IRS mileage rates to estimate your reimbursement based on the miles you’ve driven and the purpose of the drive (business, medical/moving, or charitable). Simply enter the relevant information, and the calculator will do the rest.
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.
There are two methods for figuring vehicle expenses: the standard mileage rate and the actual expense method. You may use the standard mile-age rate only if either of these apply: • You owned the vehicle and used the standard mileage rate for the first year you placed the vehicle in service.
1 sty 2023 · The Internal Revenue Service (IRS) has announced a increase in the standard mileage reimbursement rate for business miles. The rate has been adopted for use by state employees and is effective beginning July 1, 2022 - December 31, 2022. Mileage rates are used to calculate reimbursements to employees that use their personal vehicle for business ...
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.
21 gru 2021 · IRS Mileage Rate Effective January 1, 2022. The standard IRS mileage rate for the business use of an employee’s personal automobile has increased on January 1, 2022, from 56 to 58.5 cents per mile. The state bargaining agreements and compensation plans base mileage reimbursement rates on the standard IRS mileage rate that’s in place at the ...
