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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 ...
The standard mileage rate is 67 cents per mile for business purposes, 21 cents per mile for medical or moving purposes and 14 cents per mile for charitable purposes. These rates apply to gas ...
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 ...
As of 2016, the NBA has the highest per-diem for players at $115 per day, followed by the NHL whose per-diem began at a base of $100/day in 2012–13 and is adjusted each year based on changes in the US Consumer Price Index. Minor pro and collegiate athletes also receive meal money for overnight trips, usually paid as a rate set by the league ...
The new rate kicks in beginning Jan. 1 and it would apply to 2024 tax returns that would be filed in 2025. Other mileage rates, though, will not go up. ... the mileage rate will be 21 cents per ...
The ICC established an "incentive per diem" program in 1970. This added two new payments to qualifying boxcars (those less than five years old): a flat addition of around $10 to the normal per diem, and a new 4.7 cents per mile payment based on mileage traveled.
The standard mileage deduction rose to 67 cents per mile, up 1.5 cents from 2023. The change will go into effect for the 2024 tax year on taxes filed in 2025. Billionaires vs. the Middle Class ...
The law authorizes the Oregon Department of Transportation (ODOT) to set up a mileage collection system for 5,000 volunteer motorists beginning July 1, 2015. [18] 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]