Is there a set mileage rate a company should pay when you use your vehicle?

Cars & Vehicles
Ontario
Business & Finance
Labor and Employment Law

The IRS sets a rate that is used for determining the deductibility of business use for your personal vehicle. Many companies will use that rate when reimbursing their employees for usage of their own car. Currently, for 2007, that rate is 48.5 cents. You can learn more at http://www.irs.gov/newsroom/article/0,,id=163828,00.html. The IRS sets a rate that is used for determining the deductibility of business use for your personal vehicle. Many companies will use that rate when reimbursing their employees for usage of their own car. Currently, for 2007, that rate is 48.5 cents. You can learn more at http://www.irs.gov/newsroom/article/0,,id=163828,00.html. Employers are not mandated to reimburse for mileage. The IRS does permit an employer to reimburse for mileage expense up to a specific amount tax free. Typically this rate is adjusted annually, except in the situations of agressively increasing fuel costs. The rate for 2009 is 55 cents per mile. CompanyMileage.com

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