IRS Mileage Rate Calculator 2024-2025

Reimbursement Amount:

What is IRS Mileage Reimbursement?

IRS mileage reimbursement is a standard rate set by the Internal Revenue Service that businesses and individuals can use to calculate deductible vehicle expenses or reimbursement for business, medical, or charitable travel. This rate takes into account various vehicle-related costs including gas, maintenance, depreciation, and insurance. The rates are updated annually and may change mid-year if significant fluctuations in vehicle operating costs occur.

How to Calculate Your IRS Mileage Reimbursement

Step 1: Select the appropriate tax year for your calculation. The rates may vary from year to year, so ensure you choose the correct period for your travel.

Step 2: Choose your trip type from the available options: – Business mileage for work-related travel – Medical/Moving mileage for healthcare or relocation purposes – Charitable mileage for volunteer work with qualified organizations

Step 3: Enter the total number of miles driven for your selected purpose. Remember to only include miles that qualify for reimbursement – regular commuting miles typically don’t qualify.

Step 4: Review your calculation results. The system will display your total reimbursement amount and provide a breakdown of how it was calculated using the appropriate IRS rate for your selected year and purpose.

Step 5: Keep detailed records of your mileage, including dates, destinations, and purpose of trips. These records are essential for tax purposes and reimbursement claims.

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