Mileage Reimbursement Calculator

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Posted by Dinesh on

Online mileage reimbursement calculator. Use this simple mileage calculator to calculate mileage reimbursement.

Calculate Mileage Reimbursement Rate

Formula:

mc = d × c

Where,

MC is mileage compensation

d is Distance Driven

c is Compensation Per Mile

IRS Releases 2020 Standard Mileage Rates

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The Internal Revenue Service (IRS) released Notice 2020-05 providing the 2020 standard mileage rates. Beginning January 1, 2020, the standard mileage rates for the use of a car (van, pickup or panel truck) will be:

  • 57.5 cents per mile for business miles driven, down from 58 cents in 2019
  • 17 cents per mile driven for medical or moving purposes, down from 20 cents in 2019
  • 14 cents per mile driven in service of charitable organizations, unchanged from 2019
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