The Internal Revenue Service on Jan. 1, 2014, will lower its business mileage rate by one half-cent to 56 cents per mile. - Business Travel News

Share this page

Business Travel Supplier Directory

Text size: A A A

NewsLog
RSS

December 10, 2013 - 04:15 PM ET

The Internal Revenue Service on Jan. 1, 2014, will lower its business mileage rate by one half-cent to 56 cents per mile. Many companies use the rate to calculate reimbursements for employees who use personal vehicles for business, though IRS noted that "taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates." IRS adjusts the rate annually based on analysis "of the fixed and variable costs of operating an automobile."

This page is protected by Copyright laws. Do Not Copy. Purchase Reprint

Leave your comment:

Comments

blog comments powered by Disqus
Related NewsLog
October air transactions processed by mega travel agencies and settled through ARC rose 4 percent year over year,... read more »
Direct Travel acquired Peak Travel Group, a San Jose, Calif.-based travel management company with $185 million in annual sales volume.... read more »
Total revenue for Serko increased 50 percent year over year for the six months ending Sept. 30,... read more »
Concur stockholders representing nearly 99 percent of outstanding shares voted in favor of the company's proposed merger with SAP,... read more »
Direct Travel acquired Chicago-based Best Travel & Tours,... read more »
Privately held expense management provider Coupa claimed a 100 percent increase in third-quarter revenue, year over year.... read more »
The average daily rate at Extended Stay America during the third quarter increased 7.4 percent year over year to $60.14,... read more »
Business software company SAP's acquisition of Concur Technologies is expected to close Dec. 4, pending stockholder and regulatory approval,... read more »
Air Canada's net income in the third quarter of 2014 increased 8 percent year over year to C$323 million,... read more »
WestJet reported net earnings of C$52.2 million in the third quarter,... read more »
Virgin America reported net income of $41.6 million for the third quarter of 2014,... read more »