How is the IRS mileage reimbursement rate for (cents a mile) when using your own vehicle for a production
Q.My question. How is the IRS mileage reimbursement rate for (cents a mile) when using your own vehicle for a production. I am curently being employed as a runner/valet and was told that I would be compensated for mileage on my vehicle. I have to give the prod mgr a price. Thanks for your time.
A.The current IRS mileage reimbursement rate is $0.325 per mile, I believe. This is pretty much the de facto standard. Ask for it. About .27$ a mile is standred for gas and wear and tear plus tolls I believe that the feds are using .31 a mile these days. But they always did have the big bucks didn't they? $0.325 per mile was the reimbursement rate for the 1997 tax year. Ususally the rate rises $0.005 every year. Any reimbursement above that rate is considered taxable income, with all the fun that includes...
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