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The business mileage reimbursement rate is an optional standard mileage rate used in the United States for purposes of computing the allowable business deduction, for Federal income tax purposes under the Internal Revenue Code, at 26 U.S.C. § 162, for the business use of a vehicle. Under the law, the taxpayer for each year is generally ...
On Dec. 29, the agency announced a bump in the optional standard mileage rate starting Jan. 1, 2023 — which will now be 65.5 cents per mile driven. Taxpayers can use the new rate to calculate ...
Truck drivers get the standard mileage rate of 65.5 cents per mile. This rate increased from 62.5 cents per mile as of January 2023. To figure out your deduction, take the number of miles driven ...
Vermont. Despite a lower sales tax rate, Vermont residents pay a little more than Ohioans to own their cars -- $21,737 over five years, to be exact. The $1,100 annual insurance bill is $357 ...
The American Automobile Association (the "AAA" or "Triple-A") was founded on March 4, 1902, in Chicago, Illinois, in response to a lack of roads and highways suitable for automobiles. [4][5] At that time, nine motor clubs with a total of 1,500 members banded together to form the AAA. Those individual motor clubs included the Chicago Automobile ...
Per diem. Per diem (Latin for "per day" or "for each day") or daily allowance is a specific amount of money that an organization gives an individual, typically an employee, per day to cover living expenses when travelling on the employer's business. A per diem payment can cover part or all of the expenses incurred.
Apparently, that employee reimbursement rate is tied to the IRS mileage rate for business deductions in some legal fashion. Famspear ( talk ) 17:24, 24 June 2008 (UTC) Reply [ reply ] Note: Yesterday (June 23, 2008), the Internal Revenue Service issued Announcement 2008-63, which increases the business deduction rate to 58.5 cents per mile ...
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related to: aaa mileage reimbursement ratecluballiance.aaa.com has been visited by 10K+ users in the past month
686 Grandview Avenue, Columbus, OH · Directions · (614) 488-2197