Mileage Reimbursment

[ndemge]

In sept, feds raised max allowed to be paid for mileage reimbursment to $.485 per mile.<br /><br />My company just raised what they pay from .27 to .40<br /><br />Why they don't pay the max, I don't know. But for my personal business, I sure pay myself the max.

 

[SpinnerBait_Nut]

Re: Mileage Reimbursment

Yea, I always did also Noel.<br />Maybe they know something we don't.

 

[K5WAS]

Re: Mileage Reimbursment

They did not raise the maximum that you can be reimbursed. The raised the amount that you can claim on your income tax. an employer can pay you whatever they want, no max, no min.

 

[ndemge]

Re: Mileage Reimbursment

Yeah,,, it comes down to the same thing...<br /><br />If a company chooses to pay you more than .485, anything over that would have to be claimed as income.<br /><br />K5, if you know, so do I get to deduct the balance of $.08 that my company doesn't reimburse?<br /><br /><br />But like me for the business I own, it's nice to see it go up, it's more $ back in my pocket tax free.