Hi there, today I was reading about Mileage reimbursement. So what is Mileage reimbursement? Based on Wikipedia, The Business Mileage Reimbursement Rate is an optional standard mileage rate used in the United States for purposes of computing the allowable business deduction, for Federal income tax purposes under the Internal Revenue Code, at 26 U.S.C. ยง 162, for the business use of a vehicle. Under the law, the taxpayer for each year is generally entitled to deduct either the actual expense amount, or an amount computed using the standard mileage rate, whichever is greater. Having a mileage reimbursement program benefits business travelers as well as the businesses who employ them. Often, business travelers can make more during their business trips thanks to the fact that they spend less maintaining their vehicles than they are receiving in mileage reimbursement. Likewise, organizations benefit because having employees use their own cars lets them avoid the costs associated with having their own fleet of vehicles that must be used. If you want to learn more about Mileage reimbursement you can visit CRS at www.crsinc.com. Corporate Reimbursement Services, Inc. (CRS) is a management consulting firm that administers highly flexible and customizable vehicle reimbursement programs for companies with mobile employees.
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