Cardata

The same rate applies to all automobiles, including cars, vans, pickup trucks and panel trucks. The mileage rates include the variable costs of operating a vehicle, such as the cost of gas, oil, tires, maintenance and repairs, as well as the fixed costs of operating the vehicle, such as insurance, registration and depreciation or lease payments. Th...

Many businesses use the IRS mileage rates for reimbursing employees for business travel by automobile. Some colleges base the transportation allowance in the college’s cost of attendance on the business mileage rate and the distance from home to school for commuter students. If public transportation is available, however, they will use the cost of ...

Tax Cuts and Jobs Act of 2017 eliminated miscellaneous itemized deductions temporarily through December 31, 2025, preventing taxpayers from claiming a deduction for unreimbursed employee travel expenses. Previously, miscellaneous itemized deductions in excess of 2% of AGI were deductible. The law also eliminated the deduction for moving expenses th...