How to calculate your mileage reimbursement? If you’re deducting mileage as a self-employed person, the formula is straightforward: Tax deduction = current mileage rate x business miles driven For example, if you’ve driven a total of 1,000 miles for business purposes, you multiply it by th...
the Tax Court denied the taxpayer's itemized deductions for automobile expenses because he failed to substantiate them. The taxpayer worked for Home Depot from home but regularly traveled by car to the stores he supervised. Home Depot offered reimbursement for travel expenses based on a mileage ra...
Drive Less:The less your vehicle is on the road, the less likely you are to have an accident. Car insurance companies recognize this, and many offer discounts or overall cheaper rates for low-mileage drivers as a result. Some companies also offer policyholders discounts for being a good driv...
45. Includes an immediate first-day rental, and reimbursement will be made for vehicle base daily rental rate charges incurred only (excluding mileage charges, drop-off fees, insurance, gasoline, tax, etc.), up to a maximum of $45 per day limited to a maximum duration of two (2) days...