A flat-rate car allowance A flat-rate vehicle allowance that isn’t calculated based on the number of kilometers driven is considered taxable income. Since this is a lump sum you give to your employees in advance, it can’t be averaged at the end of the year and translated ...
What's a car allowance? If you receive a car allowance, it's because your employer expects you to use your personal vehicle for work-related travel. Most flat-rate vehicle allowances are added to your paycheck. You may be able to purchase a car of your choice and apply the allowance to...
Sign up with one click: Facebook Twitter Google Share on Facebook mileage allowance Dictionary Financial A fixed rate per mile (1.62 km) paid to a government employee who is operating a privately owned vehicle when such use is authorised or approved as advantageous to the government. ...
The meaning of MILEAGE ALLOWANCE is an amount of money paid for every mile traveled. How to use mileage allowance in a sentence.
The meaning of MILEAGE is an allowance for traveling expenses at a certain rate per mile. How to use mileage in a sentence.
A mileage allowance is the rate at which the IRS allows tax payers to deduct miles driven as an expense for approved purposes. It’s not mandatory; you may use actual costs instead.
An employee with a 5 HP car travels 3,000 kilometers for business purposes. According to the table, the employee would multiply the distance (3,000 km) by the corresponding rate (0.636) to determine the mileage reimbursement amount (approximately $1,908). This table allows employees to estim...
Synonyms fuel consumption rate gas mileage gasoline mileage Related Words ratio nouna travel allowance at a given rate per mile traveled Related Words travel allowance travel reimbursement Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.Want...
a. An allowance for travel expenses established at a specified rate per mile. b. Expense per mile, as for the use of a car. 6. Informal The amount of service something has yielded or may yield in the future; usefulness: a tape player that still has a lot of mileage left. American ...
Mileage allowance, also known as mileage reimbursement or mileage rate, is the reimbursement given to employees for using their personal vehicles for work-related purposes. This can include travelling to client meetings, running work errands, or commuting between different work locations. ...