What makes up the mileage rate corporations pay for use of personal vehicles.?

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What makes up the mileage rate corporations pay for use of personal vehicles.?

2006-07-28 09:11:47 · 4 answers · asked by Anonymous in Business & Finance ➔ Corporations

4 answers

Many of them use the IRS rate. Some just make it up.

2006-07-28 09:13:15 · answer #1 · answered by Heidi 2 · 0⤊ 0⤋

the companies i've worked for based it on gas prices and offered a generous rate that assumed you might be using premium gas and driving an 8 cylinder car.

2006-07-28 09:16:37 · answer #2 · answered by hg 2 · 0⤊ 0⤋

our is .345 p/mile. The IRS rate is higher now because of gas prices, but will our company change??? NOOOOOOOOOOOO

2006-07-28 09:14:35 · answer #3 · answered by horsinround2do 6 · 0⤊ 0⤋

They can base it on what ever they want. You can claim the difference on your taxes.

2006-07-28 09:15:25 · answer #4 · answered by Taxed 2 · 0⤊ 0⤋