Travel Mileage Reimbursement

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Travel Mileage Reimbursement is Important to Your Business

The IRS allows certain businesses to get reimbursed for travel related expenses.

Note: Check with your tax preparer.

You  need to remember that the wear and tear you are putting on your vehicle will eventually take its toll on the vehicle. Not to mention the parts that are wearing out as you use the vehicle for work.

Things like tires, belts, batteries, brakes, etcetera. All of these things cost money, money that you will have to come up with.

In order to get reimbursed for travel, you need to track your mileage.

The Profit Pal App has Map Pins that you set for each job’ and the App calculates the distance for you.

Based on the amount of reimbursement you choose that calculated amount will show up in the Mileage Expense box.

Traveling to that particular job. That also will get added to your fuel expense for a total Travel Cost.

Date mileage incurred: Typical Per mile reimbursement rates by years

$0.575 per mile                 January 01. 2015 to present

$0.56 per mile                    January 01, 2014 to December 31, 2014

$0.565 per mile                 January 01, 2013 to December 31, 2013

$0.555 per mile                 July 1, 2011 to December 31, 2012

$0.51 per mile                    January 1, 2011 to June 30, 2011

$0.50 per mile                    January 1, 2010 to December 31, 2010

Note: Check this out with your Tax preparer

 

 

This is just another way that the Profit Pal App will help your business. Profit Pal App Tutorial Click Here!

The Profit Pal Team

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