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Using the same example of a 2,325 road trip requiring 97 gallons of gas, take an eyeballed rough average of the gas prices the Gas Buddy or Gas Guru apps or Google Maps shows you’ll be paying ...
11. Travel expenses. If you travel for your business (including conferences) — you can deduct 50% of meals costs plus 100% of the cost of flights, hotels and transportation. There are some ...
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 ...
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 ...
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. [3]
In 1994 the U.S. National Institute of Standards and Technology (NIST) introduced gasoline gallon equivalent (GGE) as a metric for fuel economy for natural gas vehicles. NIST defined a gasoline gallon equivalent (GGE) as 5.660 pounds of natural gas, and gasoline liter equivalent (GLE) as 0.678 kilograms of natural gas. [18]
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