Reality check: The IRS has lowered the mileage rate after past increases, according to a chart on its website. The rate was last lowered in 2021 by 1.5 cents before it increased twice in 2022 ...

In response to rapidly rising gas prices, the IRS took the unusual step of increasing the standard mileage rates in the middle of the year (they're normally adjusted for inflation only once per year).

The latest guidance from the IRS says that effective ... and Sacramento (about 75 miles each way). If a trip is for medical purposes, or for moving, the deductible rate increases from 18 cents ...

As of 2013, the standard reimbursement rate issued by the IRS for business miles driven is 56.5 cents. Reimbursement also may be given to an individual using his personal car to provide a service ...

The app uses the preset IRS mileage rate, which can be a bit frustrating if you’d like to set your own rate for compensating employees. However, it should make it easy to report deductions come ...

The IRS lowered the mileage reimbursement rate to 54 cents per mile for a business vehicle in 2016, which is a 3.5 cent decrease from 2015 amidst low oil prices. The IRS lowered the mileage ...

The IRS views that as a fleet, so you must use the actual car expenses rate instead. Plan Requirements If your company has an accountable plan, do not report reimbursements to employees as income ...

The current IRS mileage reimbursement rate is $0.625, but you should use a fixed and variable rate (FAVR) program to determine a fair and efficient reimbursement rate by geography. This article is ...

151; -- In response to soaring gas prices, the IRS announced Monday that it will raise the standard mileage rate that taxpayers use to deduct business miles to 58.5 cents a mile, an increase of 8 ...

Business standard mileage rate increased to $0.655 cents per mile effective January 1, 2023. The IRS has announced that the business standard mileage rate for transportation expenses paid or incurred January 1, 2023, will be 65.5 cents per mile ...

The IRS has issued the 2015 optional standard mileage allowance rates to claim a tax deduction for driving an automobile for business, charitable, medical, or moving purposes. The IRS has issued ...

For the first time ever, the IRS lowered its standard mileage rate for business use of an automobile. Following declines in gasoline prices, the mileage rate was lowered last April 1 from 32.5 cents to 31 cents. The rate cut will make for an extra ...

Whether you are an employer or employee, it is very common for you to have questions about car mileage. Mileage claim rates are one of the companies’ best ways to lower their tax bills. If you have company cars, various tax-efficient savings can be made ...

White Rose Pizza LLC allegedly failed to properly reimburse delivery drivers for mileage and reasonable costs incurred for the business use of their vehicles, according to a new lawsuit.

Our independent reviews are funded in part by affiliate commissions, at no extra cost to our readers. By claiming business mileage rates, firms can reimburse their employees if they use their own vehicles for business travel. This can greatly improve staff ...

based on the province’s new rates effective April 1, 2023, as follows: Travel mileage compensation will now be set at $0.5482 or 54.82 cents per kilometre. That’s up from the previous rate of $0.4535 or 45.35 cents per kilometre. The meal per diem rate ...

HARRISONBURG — Less than two weeks after a lawsuit against a Staunton Domino's Pizza franchisee was filed, a former delivery driver who filed the suit has voluntarily dismissed his claims, according to federal court records. The lawsuit claimed the earnings of the franchisee's drivers fell below the federal minimum wage.

The IRS has increased the standard mileage rates to 65.5 cents per miles for business purposes in 2023, up from 58.5 cents in early 2022 and 62.5 cents in the ...

as it used to be — and tax season in 2023 has yet another new twist on mileage rates ... Just to make things a tad more confusing, the IRS also announced ...