Keyword Analysis & Research: mileage rate 2021 ohio

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What are the IRS mileage reimbursement rules?

Artie's policy states: Client sites qualify for mileage reimbursement The reimbursement rate is the IRS standard rate of $0.575 cents per mile Compare the car's odometer reading before and after the trip to calculate miles driven Employees must fill out an expense report for mileage reimbursement within 10 business days of the trip More items...

What is the purpose of mileage reimbursement?

Typically, a mileage reimbursement covers the costs of operating a vehicle for business purposes. This bakes in the costs of expenses like gasoline, wear-and-tear and more. Companies have their own policies regarding other vehicle-related expenses like tolls and parking.

How does mileage reimbursement work?

There is no standard reimbursement rate, as companies can set their own rate. Some companies will even offer various ways to “pay for” employee mileage. This can include providing work cars or offering a gas allowance. This can also include a reimbursement for company mileage.

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