Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar. The average nationwide price of a gallon of unleaded regular gas on June 17 was $5, compared with $3.08 a year earlier, according to the AAA Gas Prices website. A gallon of diesel averaged $5.78 a
Tag: mileage rate
Cents-Per-Mile Rate for Businesses Increases for 2022
This year, the cents-per-mile rate used to calculate the deductible costs of operating a vehicle for business decreased to 56 cents per mile.
Mileage Rate for Businesses Decreases Slightly for 2020
This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-half cent.