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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 ...
In December 2023, the IRS announced the standard mileage rates for 2024. While business rates have increased, other rates have either decreased or remained unchanged from the year before.
The 2024 standard mileage rate for business use of a vehicle is 67 cents a mile. ... Detroit Free Press. ... About 90% of taxpayers claim the standard deduction now and do not itemize deductions.
On Dec. 29, the agency announced a bump in the optional standard mileage rate starting Jan. 1, 2023 — which will now be 65.5 cents per mile driven. Taxpayers can use the new rate to calculate ...
An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.
According to The New York Times, the Army has started to "wikify" certain field manuals, allowing any authorized user to update the manuals. [4] This process, specifically using the MediaWiki arm of the military's professional networking application, milSuite, was recognized by the White House as an Open Government Initiative in 2010.
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