How to Calculate Reimbursable Miles
- 1). Establish a location in your motor vehicle for the small notebook to remain. This notebook will act as your mileage log.
- 2). Write your current (initial) mileage into the notebook before operating your vehicle for an IRS deductible purpose.
- 3). Write the final mileage at the end of your deductible trip to the right of your initial mileage.
- 4). Subtract the final mileage from your initial mileage to get your total deductible mileage at the end of your trip.
- 5). Write the total deductible mileage to the right of your final mileage.
- 6). To the right of your total deductible mileage, write the type of trip you will claim for this mileage (there are three trip types: business, medical/moving, and charity.)
- 1). Add up your total miles traveled for business purposes.
- 2). Multiply your total business miles by 0.51 (or the current IRS rate).
- 3). The result of this multiplication is the total amount of money that you can claim for business mileage reimbursement.
- 4). Repeat this multiplication process for your medical/moving mileage and charitable mileage. The respective rates, as of April 2011, were 0.19 and 0.14 per mile.
Recording Your Mileage
Calculating and Claiming Your Mileage
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