Kiplinger editor Joy Taylor answers readers' questions about deducting vehicle expenses, including the standard mileage allowance.

Every small-business owner appreciates tax breaks where he can get them, especially if he uses his vehicle for company purposes. Certain Internal Revenue Service restrictions and the cost of using ...

The IRS mileage reimbursement rate for 2026 is the standard per-mile amount set by the Internal Revenue Service to help taxpayers and employers calculate deductible vehicle expenses. These rates apply ...

When employees use their personal vehicles for work-related travel, they incur considerable expense. Typically, it's in the employer's best interest to pay a mileage reimbursement allowance to attract ...

A modern car’s analog speedometer. Mileage reimbursement is the process of compensating employees who use their personal vehicle for business purposes. It helps cover car-related expenses like gas, ...

Effective 07.01.26, the IRS optional standard mileage rate for business use increased to 76 cents per mile. The FLSA does not mandate mileage reimbursement at the IRS rate, but unreimbursed or ...

Accurately accounting for the use of a company vehicle is important for both the business and the employee. This is because the business wants to get the maximum deduction for the asset while the ...

This voice experience is generated by AI. Learn more. This voice experience is generated by AI. Learn more. IRS has increased mileage rates in response to rising gas prices. The IRS is increasing its ...