.55 per mile
51 cents per mile It is now 50 cents per mile for 2010 income taxes
That would not be unreasonable
All costs associated with the vehicle, gas, oil, wear and tear and insurance are accounted for in the mileage allowance.
.555 is the current reimbursement rate if you are using your own car.
On 6/23/08, the IRS increased mileage reimbursement for privately owned automobiles to 58.5 cents.
The 2009 IRS gas mileage rate is 58.5 per mile.
According to the IRS website, http://www.irs.gov/taxpros/article/0,,id=156624,00.html) the standard mileage rate for 2007 was $.485. The amount for July 31 to Dec 31 of this year is $.585!
The IRS mileage allowance includes all expenditures for gas, maintainance, repair, insurance and any other cost that may be associated with operating a vehicle. So if one claims the standand mileage expense, then receipts such as for gas, new tires, etc., cannot also be claimed. The taxpayer can, however, claim depreciation expense on the vehicle.
The IRS as of Jan 2008 considers 50.5 cents per mile the National Average, Corporate doesn't deserve to get more for their gas allowance than does the average worker.
15%
What is the 2009 federal law current rate for gas mileage reimbursement rate?
50.5