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MileIQ is an American-based technology company that develops a mileage tracking and logging app. The app uses automatic mileage tracking to calculate mileage while driving for business purposes that can then be used to report for reimbursement and potentially a tax deduction with the IRS, being attributed as the first mobile app to passively track such data.
Annual average daily traffic. Annual average daily traffic, abbreviated AADT, is a measure used primarily in transportation planning, transportation engineering and retail location selection. Traditionally, it is the total volume of vehicle traffic of a highway or road for a year divided by 365 days. AADT is a simple, but useful, measurement of ...
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 ...
Truck drivers get the standard mileage rate of 65.5 cents per mile. This rate increased from 62.5 cents per mile as of January 2023. To figure out your deduction, take the number of miles driven ...
On Dec. 29, the agency announced a bump in the optional standard mileage rate starting Jan. 1, 2023 — which will now be 65.5 cents per mile driven. Taxpayers can use the new rate to calculate ...
Notes: All estimated fuel economy based on 15,000 miles (24,000 km) annual driving, 45% highway and 55% city (1) Conversion 1 gallon of gasoline=33.7 kW·h. (2) The 2014 i3 REx is classified by EPA as a series plug-in hybrid, while for CARB is a range-extended battery-electric vehicle (BEVx). The i3 REx is the most fuel economic EPA-certified ...
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