How do I calculate a fair reimbursement to a company for driving my car for themto perform work for them.?

Question

How do I calculate a fair reimbursement to a company for driving my car for themto perform work for them.?

Answer 1

At my job we are reimbursed .505 a mile.  That was set by the GSA.

Answer 2

i think about .50 @ mile is what is standard but I'm not sure that will cover it with fuel prices up the way they are .You figure average auto gets around 18 miles per. gallon.    

$3.85 div by 18 mg=21.4 cents per mile per gal. And at 50cent a mile that leaves  28.6 cents for wear &tear etc. Hope this help.

Answer 3

The IRS standard per mile is $0.505.  So that is what the government charges and that is usually the standard.

It was $0.485 in 2007

Answer 4

Calculate it with a calculator or a bending unit

Answer 5

I would say the normal average of .50 per mile is an under estimate now. I would say fair would come closer at least .75 per mile. The current fuel prices should be explanation enough. The government allows less when they are paying you however truck drivers with experience get more that what IRS allows as a deduction or insurance reimburses. What you charge is for fuel as well as wear and tear to your vehicle and insurance as well.

Answer 6

If you pay for you gas, the legally approved amount is 50.5 cents/ mile.  I would propose they go with that value.

The IRS bumped it to 50.5 last July.