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Article Date:
July 2008


Word Count:
519

 

 

The IRS Mileage Rate Checklist


Who Qualifies to Use Mileage Rates?

 

·

You, as an individual, may use IRS rates in lieu of actual expenses.

·

You may not use the rates on a vehicle for hire, such as a taxicab.

·

You may not use the rates if your business uses five or more vehicles at the same time.

·

Corporations may not use the rates to deduct corporate-owned vehicles, but may use the rates to reimburse employees who use their personal vehicles for corporate business.

·

Although you may claim mileage rates on ... Log in to view full article.

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