Mileage Allowance


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Mileage Allowance

In the United States, a tax deduction for driving one's own car for certain purposes. If a taxpayer keeps track of miles driven for moving, medical issues, job-seeking, and some business purposes, the IRS allows a deduction of so many cents per mile, depending on the specific use and the tax year. It is important to note that commuting to and from one's place of business or employment is not covered under the mileage allowance, nor is the use of public transportation for any reason.
References in periodicals archive ?
WAVs come with a 100,000 mileage allowance on a five-year lease.
Before commenting that a 45p mileage allowance was probably quite a reasonable rate...
In May 1997, team member Paul Quinn sent her a fax addressed to "Vermin" after a dispute over his mileage allowance.
"Around 25% of those affected have already accepted the offer on the table, namely a PS150 one off payment and increase in mileage allowance from 45p per mile to 52.2p per mile.
The current mileage allowance provisions in Section 17 of the NHS terms and conditions handbook were incorporated into the Agenda for Change arrangements from the general Whitley Council in October 2004.
Four out of 10 said they would neither be better or worse off The issues highlighted as positives included the reduction in Corporation Tax, the increase in the Approved Mileage Allowance and the freeze on new domestic regulations.
They also called for an end to the system of giving councillors a mileage allowance for using bicycles rather than cars.
Travelling by car would therefore cost pounds 148 in mileage allowance whilst the air fare would be pounds 100 plus transport to and from the airports.
And though I could claim about pounds 25 a day in mileage allowance or taxi fares, my time is more valuable to me than to spend it filling out the claim form.
The Royal College of Nurses say community nurses are effectively subsidising the NHS because their petrol mileage allowance has not kept pace with the price at the pumps.
"In order to comply with EU VAT legislation, HMRC have introduced an additional requirement to enable businesses to recover VAT on the fuel element of the mileage allowance paid to employees," said Jeremy Leach, tax adviser, at accountancy firm Haines Watts Wolverhampton.
2005-71 increased the mileage allowance deduction for the business use of automobiles from Sept.