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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 ...
Here are the 2024 mileage reimbursement rates: ... Multiple that number by the $0.655 standard mileage rate for business. 500 business miles multiplied by $0.655 is $327.50.
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.
The origin of the current rate schedules is the Internal Revenue Code of 1986 (IRC), [2] [3] which is separately published as Title 26 of the United States Code. [4] With that law, the U.S. Congress created four types of rate tables, all of which are based on a taxpayer's filing status (e.g., "married individuals filing joint returns," "heads of households").
In November 2024, House Speaker Mike ... but members are billed at full reimbursement rates ... As of January 2012 the rate ranges from $0.41 to $1.32 per mile ...
The position is currently held by Marco Rubio, who was appointed by President Donald Trump and confirmed by the U.S. Senate on January 20, 2025, by a vote of 99–0. [7] As of 2024, the State Department maintains 271 diplomatic posts worldwide, second only to the Ministry of Foreign Affairs of the People's Republic of China. [8]
A majority of Californias utility plants offer discounted rates for charging the cars on off peek hours. [ 17 ] Colorado - The state government has incentivized consumers on purchasing EV's giving out $5,000 grants that are available instantaneously after the purchase.
Using EPA 2018 Fuel Economy Guides assumptions for national average pricing of $2.56/gal regular gasoline and $0.13/kWh [42] we can calculate a vehicle that is rated at 84 MPGe or 40 kW/100 Mi efficiency and has a 16.5 kW EV battery of which 13.5 kWh is usable for electric driving with an advertised range of 33 miles per charge.