My employer gives me 35 cents a mile? I thought it was higher and need proff..
2007-11-09 01:26:32 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Its 48.5 cents per mile and the website is www.irs.gov.
2007-11-10 00:54:59 · answer #1 · answered by Steve 6 · 1⤊ 0⤋
The official IRS rate is 48.5¢ per mile. Your employer is not obligated to give you ANY reimbursement, legally. They can pay you whatever they wish, including nothing whatsoever.
If they reimburse you at the official rate the paperwork and reporting requirements are slightly reduced -- basically you can consider it a wash and do not need to file anything with your taxes if they reimburse you at the official rate. If they reimburse at a higher rate then you must claim the excess as income and if they reimburse less you may claim the loss as an itemized deduction if you choose.
2007-11-09 09:44:05 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Website is http://www.irs.gov/newsroom/article/0,,id=163828,00.html and it's 48.5 cents a mile. That's what the IRS allows though, which doesn't mean that your employer is required to reimburse you at that rate - or to reimburse you at all, for that matter. If he reimburses you at a lower rate, you can claim the difference on your tax return if you itemize. You can only claim unreimbursed employee business expenses that are over 2% of your income though.
2007-11-09 09:33:00 · answer #3 · answered by Judy 7 · 2⤊ 0⤋
If you drive a heck of a lot of miles then you can claim the thirteen + cents per mile. It does have to be a certain percent of your total though and I ma not sure what that is.
Remember you can not claim what you get in return for using your car.
2007-11-09 10:16:34 · answer #4 · answered by Anonymous · 0⤊ 0⤋