I do a lot of traveling for my company. Last I heard I should be paid $ .48 per mile. That was as of last December. Now that gas prices are higher has the cost per mile gone up too?
2006-08-01 04:31:08 · 2 answers · asked by GillSev 3 in Cars & Transportation ➔ Other - Cars & Transportation
Guess you meant COST? at 48c you may be making a little bit, depending on what you drive.
Now gas prices are up you may be loosing a little. You need to start a service log so you know how much you spend on tyres, gas, servicing, insurance. etc, plus your miles travelled. Divide one into the other for cost per mile. Then you'll know if your ahead or behind.
2006-08-01 04:37:21 · answer #1 · answered by 1crazypj 5 · 0⤊ 2⤋
The IRS raised the Mileage allowance for the last third of 2005 to $.48/mile. For 2006 the rate is $.44/mile. You should be getting non-taxed payment for company use of your car at this rate. Be sure to keep your mileage logbook accurate and up to date!
About the other response. The Mileage rate is to pay for ALL of the costs of driving...not just fuel. $.44/mile is about right in my opinion.
2006-08-01 11:52:46 · answer #2 · answered by FreedomLover 5 · 0⤊ 0⤋