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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 ...
For drivers on the low-end of that range, they could deduct $53,600 in mileage for 2024, versus $52,400 in 2023, decreasing their tax liability and potentially putting money in their pocket. If a ...
Here are the 2024 mileage reimbursement rates: Business mileage rate: 67 cents per mile. This mileage rate for business increased by 1.5 cent from 65.5 cents per mile in 2023.
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.
MagsforMiles, a program run by CAP Systems, [1] allows people to redeem frequent flyer miles for magazine subscriptions. Members of frequent flyer programs with an active, positive mileage balance may receive direct mail informing them of the opportunity to redeem their miles for magazines.
Fuel-efficient sedans will be more important than ever going into 2025, as they will be the vehicles that save you the most money. With the average American spending thousands in annual...
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The United States House Committee on Mileage is a former standing committee of the United States House of Representatives. The jurisdiction of the committee is described in Rule XI: "The ascertaining of the travel of Members of the House shall be made by the Committee on Mileage and reported to the Sergeant at Arms ."