Page 2 of 2 FirstFirst 12
Results 11 to 15 of 15
  1. #11
    Senior Tech 50+ Posts
    Join Date
    Apr 2009
    Posts
    75
    Rep Power
    20

    Re: Going rate for mileage

    Quote Originally Posted by brewster67 View Post
    The current federal mileage rate is 54.5 cents per mile. If you are paid less than that you can claim the difference as a deduction on your taxes. You would just have to have a record of your mileage and what you get paid for mileage.
    Only if you have enough deductions to itemize. Used to be you could claim the mileage deduction whether or not you itemize. Not anymore.

  2. #12
    Retired 5,000+ Posts slimslob's Avatar
    Join Date
    May 2013
    Location
    Bakersfield, CA
    Posts
    8,684
    Rep Power
    187

    Re: Going rate for mileage

    Quote Originally Posted by pbbsinc View Post
    I pay my techs a rate that I adjust quarterly based on gas prices in my state (Florida) & the assumption that they get 25MPG (if they drive a hot rod, they come up short, & if they drive a Prius, they come out ahead).

    Until yesterday, it was 32.32 cents /mile (based on $2.71/gal, & I just adjusted it today to 32.72 (based on $2.81/gal).

    I pay for whatever tolls & parking they itemize as well.
    Does that include allowances for vehicle maintenance (oil and lube, tune up, etc) tire wear.

  3. #13
    Geek Extraordinaire 2,500+ Posts KenB's Avatar
    Join Date
    Dec 2007
    Location
    Cleveland, Ohio
    Posts
    3,042
    Rep Power
    76

    Re: Going rate for mileage

    Quote Originally Posted by BR549 View Post
    Only if you have enough deductions to itemize. Used to be you could claim the mileage deduction whether or not you itemize. Not anymore.
    Then there’s the issue of what the IRS considers to be “business miles”, compared to what your employer does.

    Spoiler alert: It’s most likely a very different answer, and not in the good way.
    Some days you’re the dog, some days you’re the fire hydrant.

  4. #14
    Trusted Tech 50+ Posts
    Going rate for mileage


    Join Date
    Nov 2005
    Posts
    78
    Rep Power
    27

    Re: Going rate for mileage

    Quote Originally Posted by slimslob View Post
    Does that include allowances for vehicle maintenance (oil and lube, tune up, etc) tire wear.
    At the current price of $2.81/gallon, & assuming 25mpg, 11.24 cents/mile of the 32.7 cents/mile should pay for gas expenditures. The remaining 21.46cents/mile compensates for those expenses, depreciation, etc..

  5. #15
    Technician
    Join Date
    Apr 2011
    Location
    Jefferson City, MO
    Posts
    25
    Rep Power
    16

    Re: Going rate for mileage

    We have over 200 company vehicles. About 100 of them are for service. Every service and field IT technician get a vehicle plus 500 miles a month for personal usage, managers get 1500 miles. As a manager, I had to trade in my 2016 Malibu (71K) for a 2018 GMC Canyon! Our owner really cares about the employees, and there is a financial benefit to reducing your cash at the end of the year.

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Get the Android App
click or scan for the Copytechnet Mobile App

-=-=-=-=-=-


IDrive Remote Backup

Lunarpages Internet Solutions

Advertise on Copytechnet

Your Link Here