Search results
Results from the WOW.Com Content Network
The standard mileage rate for medical purposes remains at 21 cents per mile in 2025, the same as 2024. The same rate of 21 cents per mile will apply in 2025 for moving purposes for qualified ...
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 ...
Business mileage rate: 67 cents per mile. This mileage rate for business increased by 1.5 cent from 65.5 cents per mile in 2023. Military moving mileage rate: 21 cents per mile (1 cent decrease ...
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 ...
Main page; Contents; Current events; Random article; About Wikipedia; Contact us
Travel, particularly by motor vehicles, is often reimbursed at a rate determined only by distance travelled, e.g., the US business mileage reimbursement rate. Fixed per diem (and per mile) rates eliminate the need for employees to prepare, and employers to scrutinise, a detailed expense report with supporting receipts to document amounts spent ...
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 ...
Fuel economy in automobiles, typically in miles per gallon (mpg) (US) Business mileage reimbursement rate, an optional standard mileage rate used in the United States for purposes of computing the allowable business deduction