Mileage rate for 2500 CTD

[tractorface]

Need to use my CTD for a work trip (hauling an aluminum panel in the bed of the truck) and I was wondering if anyone knew what the going rate for mileage would be and where to find the documentation. Typically I use my car and charge 36. 5 cents per mile as found on some IRS tax form. I am sure the allowance should be higher for a truck. I just want to find a fair rate for myself and my employer.

Thanks

 

[#crnxr]

CAVEAT: I'm not an accountant. But, I think you're right, 36. 5 cents / mile is the going rate for tax year 2002. As far as I know the IRS uses only one rate , which is applicable to all vehicles. So, you have two choices: ask for the standard 36. 5 cents/mile or the actual cost for fuel/maintenance. With the cost of diesel coming down in most areas, and assuming that you get at least 16 mpg, I would try to get the 36. 5 cents / mile from your employer ($1. 60/gal divided by 16 mpg = $ . 10 / mile ). If you had a less efficient vehicle then getting the actual reimbursement costs might make more sense. Here are a couple of links to the IRS in case you want 'em. . .



Someone please correct me if I'm off base.



http://www.irs.gov/businesses/small/industries/article/0,,id=97616,00.html



http://www.irs.gov/formspubs/page/0,,id=11417,00.html



-Kyle

 

[BV]

I remember reading about hotshots charging $1-$1. 50 a mile but that is for towing a loaded trailer and pays for high insurance costs.



With fuel costs lately, $. 50 per mile would seems fair for both.

 

[Silver]

We pay our employees $0. 27 / mile for running around town, and $0. 50 / mile when pulling a trailer.