Mileage reimbursements for employees are standard in many industries. The approach is straightforward and seems fair. But the IRS-approved FAVR mileage reimbursement is being touted as a more...
When an employee drives a personal vehicle as part of their job, the company typically reimburses the driver for the cost of the business use of the vehicle. Many employers pay a cents-per-mile rate...
Gas prices are spiking, adding even further to inflation. Understanding how this will affect employees who operate a vehicle for your company is important.
If you drive a personal vehicle for work, your employer may pay a mileage rate to offset the costs you incur. Once you know the mileage rate, it's easy to calculate the reimbursement. But is that...
The IRS mileage rate was designed to be a tax deduction tool for individual taxpayers, but it has become the standard rate for business vehicle reimbursements. The results are costlier than you think.
A standardized mileage rate, such as the IRS rate, and employee-reported mileage both can make it hard to control costs while supporting employees sufficiently – here are three best practices to fix...
Mileage reimbursements face scrutiny when employees discover that their rate isn’t covering their costs, even if you are using the IRS mileage rate. How will you answer when an employee asks you to...
When deciding on a mileage reimbursement rate, many companies look for guidance to the published standard mileage rates from the IRS. But the question of whether to pay that exact rate to employees...
2020 has been a rough year for everyone. As you head into 2021, your business may be weighing whether to pay a car allowance or mileage reimbursement to employees. Our answer to this question may...
