What is the Mileage Reimbursement Rate for Businesses for 2012?

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I’m often asked what some of my most popular posts are on the blog. Surprisingly, one topic that always seems to generate interest is the mileage reimbursement rate. I’m not quite sure why.

In any event, the new rate became effective January 1, 2012. Remember, this is the optional standard mileage rates. These rates are typically used by businesses to help calculate mileage expenses for employees.

It was last adjusted in mid-2011 and the 2012 rate is unchanged from that. Beginning on Jan. 1, 2012, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be 55.5 cents per mile for business miles driven...

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Published In: Labor & Employment Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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