IRS Mileage Reimbursement Rate Calculator
The Internal Revenue Service (IRS) provides guidelines for deducting the cost of operating a vehicle for business purposes. Instead of tracking every single expense like gas, oil, tires, and repairs, taxpayers can often use the standard mileage rate. This rate is updated annually by the IRS and simplifies the process of calculating deductible vehicle expenses. Using the standard mileage rate allows you to deduct a certain number of cents per mile driven for business.
There are different standard mileage rates for various categories:
- Business Use: This is the most common rate and applies to miles driven for qualified business purposes.
- Medical Use: For miles driven to and from medical appointments or treatment centers.
- Moving Use (for active-duty military): For qualified moving expenses for active-duty members of the Armed Forces.
It's important to keep accurate records of the miles driven for each purpose, including the date, destination, business purpose, and total miles driven. You cannot use the standard mileage rate if you have claimed actual expenses for the vehicle in prior years, or if you operate a fleet of five or more vehicles.
Calculate Your Mileage Reimbursement
Reimbursement Summary
Total Business Reimbursement: $0.00
Total Medical Reimbursement: $0.00
Total Moving Reimbursement: $0.00
Total Reimbursement: $0.00