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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. § 162, for the business use of a vehicle. Under the law, the taxpayer for each year is generally ...
For the final six months of 2022, the standard mileage rate for business travel was 62.5 cents per mile, up 4 cents from the rate effective at the start of 2022. The new rate was implemented to ...
The IRS bumped up the optional mileage rate to 67 cents a mile in 2024 for business use, up from 65.5 cents for 2023. The new rate kicks in beginning Jan. 1 and it would apply to 2024 tax returns ...
Here are the 2023 mileage reimbursement rates: Business use: 65.5 cents per mile. This mileage rate for business increased by 3 cents from 62.5 cents per mile in 2022. Military moving: 22 cents ...
The mileage for dual-fuel vehicles, such as E85 capable models and plug-in hybrid electric vehicles, is computed as the average of its alternative fuel rating—divided by 0.15 (equal to multiplying by 6.666)—and its gasoline rating. Thus an E85-capable vehicle that gets 15 mpg on E-85 and 25 mpg on gasoline might logically be rated at 20 mpg.
Fuel economy in aircraft. Between 1950 and 2018, efficiency per passenger grew from 0.4 to 8.2 RPK per kg of CO₂. [1] The fuel economy in aircraft is the measure of the transport energy efficiency of aircraft . Fuel efficiency is increased with better aerodynamics and by reducing weight, and with improved engine brake-specific fuel ...
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