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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 ...
Now, to calculate gas cost per mile simply divide the total miles driven by the total cost of your last fill-up. Using the prior example, if the gas cost $2.49 per gallon, your 15-gallon fill-up ...
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 energy obtainable from burning one US gallon of gasoline is 115,000 BTU, 33.70 kWh, or 121.3 MJ. [8] To convert the mile per gallon rating into other units of distance per unit energy used, the mile per gallon value can be multiplied by one of the following factors to obtain other units: 1 MPGe.
Odometer. An odometer or odograph is an instrument used for measuring the distance traveled by a vehicle, such as a bicycle or car. The device may be electronic, mechanical, or a combination of the two (electromechanical). The noun derives from ancient Greek ὁδόμετρον, hodómetron, from ὁδός, hodós ("path" or "gateway") and ...
Road trips are often a much cheaper option compared to flying; however, the expenses can add up quickly with all the costs of motels, gas and food. In order to leave room in the budget for road ...
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