Tax Resources for Accountants and Small Businesses (U.S.)
View the Official GSA Per Diem Rates Table (FY 2025–2026) Source: U.S. General Services Administration (GSA) What Are Per Diem Rates Per diem, meaning “per day,” refers to the daily allowance set by the...
IRS Standard Mileage Rates by Year Year Business Medical / Moving Charitable 2025 70¢ 21¢ 14¢ 2024 67¢ 21¢ 14¢ 2023 65.5¢ 22¢ 14¢ 2022 58.5–62.5¢ 18–22¢ 14¢ 2021 56¢ 16¢ 14¢
The IRS business expense rules 2025 introduce important updates for small businesses, including new deduction limits, mileage rates, and depreciation rules. Knowing these changes helps you plan expenses and stay fully compliant with IRS...
Knowing the right tax deductions for self-employed drivers 2025 can help you cut costs and increase profits. From mileage and repairs to insurance and depreciation, the IRS allows several write-offs that reward careful tracking...
When choosing between the standard mileage vs actual expenses 2025 deduction methods, it’s important to know how each affects your taxes, records, and refund. Understanding both options helps you select the approach that offers...
The IRS 2025 mileage rates establish new deduction amounts for business, medical, and charitable driving. For 2025, the rate is 70 cents per business mile, with updated limits for depreciation and vehicle valuation under...
Beginning on Jan. 1, 2024, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 67 cents per mile driven for business use, up 1.5 cents...
2023-2024 Special Per Diem Rates This annual notice provides the 2023-2024 special per diem rates for taxpayers touse in substantiating the amount of ordinary and necessary business expenses incurredwhile traveling away from home, specifically...
Standard mileage rates: According to the IRS, the standard mileage rates for the use of a car, van, pickup, or panel truck are as follows: 58.5 cents per mile for business miles driven (up...
Mileage Rate Changes Purpose Rates 1/1 through 6/30/2022 Rates 7/1 through 12/31/2022 Business 58.5 62.5 Medical/Moving 18 22 Charitable 14 14
IRS issued the 2021 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on January 1, 2021, the standard mileage rates...
Are Employee Reimbursements Taxable? In this article we are talking about employee reimbursements and taxation. 1. Employee Reimbursements It’s inevitable that your employees will pay for business expenses with their own money and ask...
When an employee travels away from the office and incurs expenses, the company should reimburse them. Whether travelling across the world or just driving their car to a client’s location, getting the reimbursement right...
26 CFR 601.105: Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability. (Also: Part I, §§ 62, 67, 162, 267, 274; 1.62-2, 1.162-17, 1.267(a)-1, 1.274-5, 1.274-5T.) Rev. Proc....
SECTION 1. PURPOSE This notice provides the optional 2020 standard mileage rates for taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes. This...
2019-2020 Special Per Diem Rates – Business Travel Per Diem Rates Notice 2019-55 SECTION 1. PURPOSE This annual notice provides the 2019-2020 special per diem rates for taxpayers to use in substantiating the amount...
Beginning on January 1, 2020, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 57.5 cents per mile driven for business use, down one half...
Beginning on Jan. 1, 2019, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 58 cents per mile driven for business use 20 cents per...
Beginning on Jan. 1, 2018, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 54.5 cents for every mile of business travel driven, up 1...
Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 53.5 cents per mile for business miles driven, down from 54...