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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 ...
The IRS has given at least one tiny glimmer of hope for your 2023 finances amid a backdrop of economic uncertainty: You can now increase your tax write-off for fuel costs. On Dec. 29, the agency ...
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 ...
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 ...
MileIQ is an American-based technology company that develops a mileage tracking and logging app. [2] The app uses automatic mileage tracking to calculate mileage while driving for business purposes that can then be used to report for reimbursement and potentially a tax deduction with the IRS, being attributed as the first mobile app to passively track such data.
Thoma Bravo. Number of employees. 450. Website. www.motus.com. Motus is a workforce management company headquartered in Boston, Massachusetts, [1][2] that offers vehicle reimbursement, fleet management and business intelligence solutions. This includes mileage reimbursement, BYO programs, Managed Mobility Services and living cost intelligence.
The Internal Revenue Service announced an increase in the standard mileage rates when people use their vehicles for business use. The standard mileage deduction rose to 67 cents per mile, up 1.5 ...
Lifeline is the Federal Communications Commission 's program, established in 1985, intended to make communications services more affordable for low-income consumers. Lifeline provides subscribers a discount on monthly telephone service purchased from participating providers in the marketplace. Subscribers can also purchase discounted broadband ...