Tax rate
Be Prepared With a Detailed Mileage Log for IRS Audit
Posted by Company Mileage | February 13, 2020
IRS audits, much like vampires and werewolves, are shrouded in lore. The difference, of course, is that audits are real and could actually happen to you, though the likelihood isn’t… Read More
2020 IRS Standard Mileage Rate Announced
Posted by Company Mileage | December 31, 2019
The Internal Revenue Service (IRS) has updated the optional standard mileage rate in 2020 to 57.5 cents per mile, a decrease of 0.5 cents from 58 cents per mile in… Read More
Top 5 Measurements the IRS Uses to Determine Mileage Rate
Posted by Company Mileage | November 4, 2019
At the end of each year, the IRS releases their standard mileage rates for travel for businesses, medical or moving reasons and nonprofits and charitable organizations. Instead of dealing with… Read More
Should You be Reimbursing Mileage at the IRS Standard Rate?
Posted by Company Mileage | July 11, 2019
The standard mileage rate the Internal Revenue Service sets for each year is no doubt an important metric. For employees that drive their personal vehicles for their jobs – and… Read More
Proposed 2018 Gas Tax Increase Could Increase Mileage Reimbursement Costs by Up To 4%: Report
Posted by Company Mileage | March 22, 2018
According to the Washington Post, a proposed gas tax increase by 25-cents gained bipartisan support earlier this month. Currently this tax is 18.4 cents on gasoline and 24.4 cents on… Read More