Mileage tracking play a big role in the lives of many drivers, employees and company decision makers. It’s a small, every day thing that can have a big impact on…
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There are many reasons why the IRS may audit your organization. But most decision makers often overlook their vehicle program. Have a fleet? Maybe a reimbursement program? Regardless, the way…
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You may be wondering why the odometer reading in your vehicle differs from the distance calculated by an online mapping provider. The answer is simple: although vehicle odometer readings are close to the actual mileage traveled, they are not precise. Surprising to many, there is no federal law that regulates odometer accuracy, only guidelines by The Society of Automotive Engineers that allow for a margin of error of plus or minus four percent. A FOX19 report on odometer readings found that four vehicles of different makes all registered inaccurate readings. Some readings overshot the mileage driven, while others under reported the mileage driven. Even a variance of twenty feet per mile driven could result in a discrepancy of over five-hundred miles over the vehicle’s lifetime.
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Employees, self-employed individuals and other taxpayers have used the optional IRS standard mileage rate (or Safe Harbor Rate) to compute the deductible costs of operating an automobile for business in…
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Reimbursing employees accurately for the business mileage they put on their personal vehicles is no joke. The consequences of not doing so range from increased T&E expenses to legal action….
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Technological advances have changed the way we live and work. From the simple convenience of the internet of things allowing us to tell our house what to set the temperature…
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Businesses are well-advised to be aware of the risks associated with mileage fraud. Unfortunately, many companies are unaware of how commonly mileage fraud occurs in businesses with mobile workers. Outdated…
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