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Deductions & credits
If this is your personal vehicle, you get reimbursed by the company through a written reimbursement plan.
You need to use the Standard Mileage Rate.
That would be an expense for the company and not reported by you.
If this is a business vehicle, the company can use the Standard Mileage Rate or Actual Expenses and claim it as a business expense.
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March 12, 2024
7:37 PM