Mileage Calculator Reimbursement 2019
Under the Internal Revenue Code , a taxpayer is entitled to deduct either the actual expense amount, or an amount computed using the standard mileage rate declared by IRS under mileage reimbursement policy , whichever is greater from the gross total income. The IRS has just announced the mileage reimbursement rate for tax year 2019. Here is a quick mileage reimbursement calculator for 2020 which requires you to input just the number of miles traveled for business purpose, medical and charitable purpose.
Mileage Calculator Reimbursement
The aforesaid calculator is based on the federal mileage reimbursement rate .
Standard Mileage Rates 2019
Beginning on January 1, 2019, the standard mileage rates for the use of a car, van, pickup or panel truck will be:
- 58 cents per mile for business miles driven (up from 54.5 cents in 2018)
- 20 cents per mile driven for medical or moving purposes (up from 18 cents in 2018)
- 14 cents per mile driven in service of charitable organizations (currently fixed by Congress)