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The Internal Revenue Service on Thursday announced that the 2025 standard mileage rate will go up by 3 cents per mile to 70 cents for the optional mileage rate for automobiles driven for business ...
The IRS mileage reimbursement rate is a deduction you can take for using a vehicle for qualifying purposes. Find out if you qualify. Mileage Reimbursement Rate for 2025: What To Expect
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 ...
Ramp takes a closer look at mileage reimbursement and explains why it's important and when it does or does not make sense.
An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.
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 ...
[10] Vehicles that have already been certified can qualify for the tac credit by meeting these additional requirements. The vehicle must be new, and the original use for the vehicle by the taxpayer receiving the credit should not change. The tax credit will only be given to the original purchaser of the vehicle, and not to a secondhand owner.
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