The IRS standard mileage rate for 2007 informations
Q.Everybody seems to be using the word 'partner' here, which seems to indicate ownership of the company. What if I'm just a lowly employee who needs to go on a business trip. If I (on my own prerogative... i.e. I could have driven or flown commercial if I had wanted to) decide to fly myself, am I legal? Can I bill this back to the company ( the IRS standard mileage rate for 2007)? What if I take a fellow employee with me. Does this change anything? I just changed jobs to a company that doesn't explicitly prohibit business travel on GA aircraft (hooray!), and I'm wondering if I can theoretically take advantage of that.
A.The IRS standard mileage rate is 48.5 cents so I don't know the FAA position on this, but since my company doesn't permit private flying for business purposes, it's moot to me. I would expect that you may be able to get any "reasonable" rate of reiumbursement, but again, I haven't looked into it. (NB: the mileage rate for airplanes is much higher than the auto rate, so don't restrict yourself to the auto rate...) Also note that you need the company to agree to reiumburse you, regardless of what the FAA opinion is Besides the FAA position on reimbursement, don't forget the IRS has rules about travel expenses. You might only to be allowed to claim the lowest of the rates for car transportation or have to report "income" if your company reimburses you for more than the automobile rate.
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