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2007-03-14 07:12:50 · 6 answers · asked by natalia22_n 1 in Cars & Transportation Buying & Selling

I live in Chicago, IL
Gas price is 2.45$

2007-03-14 07:14:21 · update #1

6 answers

Doesn't matter the price of gas, it's typically based on the company policy. The company I work for pays $0.45 per mile.

2007-03-14 07:16:40 · answer #1 · answered by 81 Honda 5 · 0 0

They usually pay what the IRS allows, which last I knew was around 31-35 cents a mile.

Look on the IRS schedule D, that will tell you what the IRS allows you to deduct per mile if you use your personal vehicle for work. You don't get to take the deduction if your employer reimburses you.

It doesn't matter what kind of car you have, the allowance is the same regardless.

2007-03-14 14:18:19 · answer #2 · answered by Fester Frump 7 · 0 0

Mileage Allowance


National Summary

Most employers reimburse their employees for work-related use of their own cars at or near the mileage rate set each year by the IRS. Use or an amount at or below the IRS rate eliminates the need to maintain extensive records in order to exclude the reimbursement from employees' taxable income. Employees still have to provide specific information about the business use of their cars. For employees who use their own cars extensively, more complex reimbursement programs may be implemented to encourage cost reductions. Employers should require employees who use their own cars for business to provide proof of insurance coverage.

The current rate is as follows:

Business 48.5 cents per mile
Charitable 14 cents per mile
Medical and moving 20 cents per mile

2007-03-14 14:22:44 · answer #3 · answered by jumbos_mom 5 · 0 0

This is something you and your employer should negotiate between you, but the going rate varies between 37 and 45 cents per mile.

2007-03-14 14:17:32 · answer #4 · answered by mrfixit64857 2 · 0 0

40.5 cents per mile for all vehicles

2007-03-14 14:16:55 · answer #5 · answered by Strawberryblonde 3 · 0 0

go here http://www.gsa.gov/Portal/gsa/ep/contentView.do?contentId=9646&contentType=GSA_BASIC

2007-03-14 14:16:47 · answer #6 · answered by westside_hooligan 3 · 0 0

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