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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.
2017 — 17 cents per mile. 2016 — 19 cents per mile. 2015 — 23 cents per mile. 2014 — 23.5 cents per mile. 2013 — 24 cents per mile. 2012 — 23 cents per mile. Second half of 2011 — 23 ...
In 2022, the rate was 58.5 cents per mile in the first half of the year and 62.5 cents in the second half -- but $0.60 per mile goes a lot farther in some states than others.
A new year will mean a new, slightly higher standard mileage rate for 2025. The Internal Revenue Service on Thursday announced that the 2025 standard mileage rate will go up by 3 cents per mile to ...
ODOT may assess a charge of 1.5 cents per mile for up to 5,000 volunteer cars and light commercial vehicles and issue a gas tax refund to those participants. [3] In January 2015, Azuga Inc., Sanef, IMS and Verizon were selected as Commercial Account Managers for the OReGO program. OReGO is name of the voluntary road usage charging program in ...
Incentive per diem (IPD) was a program created in the United States in 1970 to encourage railroads to purchase new boxcars. Established by the Interstate Commerce Commission (ICC), a regulatory agency overseeing railroads, the program offered significant payments to railroads that purchased new boxcars.
Mileage Tax Deduction: Understand the Reimbursement Rules Starting Jan. 1, 2024 the mileage tax deduction will now be 67 cents per mile driven — up 1.5 cents from 2023. Find out if you qualify ...
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