1. What is Mileage Reimbursement?

Mileage reimbursement is compensation provided by employers to employees who use their personal vehicles for business purposes. The reimbursement covers vehicle expenses like fuel, maintenance, and depreciation.

2. How Does the Calculator Work?

The calculator uses the standard mileage reimbursement formula:

Where:

• Business Miles — Distance traveled for work purposes (miles)
• Rate — Current reimbursement rate per mile (USD/mile)

Explanation: The standard IRS business mileage rate for 2023 is $0.655 per mile (pre-filled as default), but your employer may use a different rate.

3. Importance of Mileage Tracking

Details: Accurate mileage tracking ensures proper reimbursement and may be required for tax deductions. Maintain a detailed log including date, purpose, starting/ending odometer readings, and destinations.

4. Using the Calculator

Tips: Enter total business miles driven and the reimbursement rate per mile. The calculator will compute your total reimbursement amount.

5. Frequently Asked Questions (FAQ)

Q1: What is the current standard mileage rate?
A: For 2023, the IRS standard rate is $0.655 per business mile (as of January 2023).

Q2: Can I claim mileage reimbursement on my taxes?
A: Only if your employer doesn't reimburse you or reimburses less than the IRS rate. Tax rules vary by country.

Q3: What counts as business miles?
A: Travel between workplaces, client meetings, business errands, and other work-related driving (excluding regular commute).

Q4: How should I track my miles?
A: Use a mileage logbook, mobile app, or your vehicle's trip odometer. Record details immediately after each trip.

Q5: Does this include international rates?
A: No, this calculator uses U.S. standards. Check local regulations for rates in other countries.