I am working for an organization and the president went on a trip for us. We paid him for mileage and now he wants us to reimburse him for his gas receipts. We paid .48 a mile.
2006-08-21 12:12:03 · 5 answers · asked by tgood510 1 in Business & Finance ➔ Other - Business & Finance
The answer is very likely no. The cost of fuel should be included as a part of the mileage reimbursement. That would be the normal business practice. However the organization can pay people anything they wish. The Federal authorized standard mileage rate is 44.5 cents a mile for 2006, which means that anything that he receives above the mileage rate to include the fuel cost may very well be taxable to him. I does sound like the fellow is double dipping a bit.
2006-08-21 12:25:39 · answer #1 · answered by ? 6 · 0⤊ 0⤋
No, the mileage reimbursement covers the gas, maintenance, time, etc for the travel. I want to work for your company mine only pays $0.33 per mile.
2006-08-21 12:20:22 · answer #2 · answered by Anonymous · 0⤊ 0⤋
No, the .48 per mile covers everything including your gas
2006-08-21 15:00:56 · answer #3 · answered by QDK 2 · 0⤊ 0⤋
For 1099-Misc, take the money. they'll record it as income on the 1099-Misc besides as they might't take a deduction for gas money till this is their motor vehicle. you may no longer deduct gas the two. you will possibly desire to deduct mileage and which skill you're able to desire to maintain information of the miles pushed. you may deduct the two the commonplace fee (greater elementary) or the somewhat fee (you're able to desire to maintain all information!). BTW, it sounds, as commonplace, which you're an worker who has been misclassified as a contractor.
2016-10-02 09:21:18 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Generally, no. That is double-counting.
2006-08-21 12:18:49 · answer #5 · answered by Jamestheflame 4 · 0⤊ 0⤋