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I asked this friend to help me move three months ago, and when we were at U-Haul renting a truck, they asked if there would be any other drivers.
Business mileage reimbursement rate The business mileage reimbursement rate is an optional standard mileage rate used in the United States for purposes of computing the allowable business deduction, for Federal income tax purposes under the Internal Revenue Code, at 26 U.S.C. § 162, for the business use of a vehicle. Under the law, the taxpayer for each year is generally entitled to deduct ...
U-Haul's rental fleet is composed of trucks, trailers, auto-transports, and various other equipment. Heavy duty pickup truck and van cabs manufactured by Ford, GMC, and Ram are mated with U-Haul manufactured truck boxes in fabrication plants located at various places in North America.
Employer transportation benefits in the United States An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132 (a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross ...
Truck drivers get the standard mileage rate of 65.5 cents per mile. This rate increased from 62.5 cents per mile as of January 2023. To figure out your deduction, take the number of miles driven ...
For the final six months of 2022, the standard mileage rate for business travel was 62.5 cents per mile, up 4 cents from the rate effective at the start of 2022.
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