AboutJohn Stancil, CPA Expertise I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I teach tax and accounting at a small church-related college. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a part time tax practice for over 30 years. I am a member of the AICPA, National Society of Tax Professionals, and the Institute of Management Accountants.
Experience I hold a doctorate in Accounting, and four professional certifications: CPA, CMA, CFM, and CIA. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I write a monthly tax column for the local newspaper.
Question My husband works for a copier repair company. They provide him with a vehicle. Could you tell me the mileage rate they are required to pay? They are paying him $.14 per mile. This rate has not changed since gas prices have hit an all time high. Every time my husband addresses this situation his boss just blows him off.
Thank you very much for your time.
Felicia Kirk
Answer Felicia,
Thanks for your question.
The mileage rate they are required to pay is zero. There is no requirement that he be reimbursed for his mileage. Whatever the company decides to pay is perfectly legal.
The current IRS rate is 50.5 cents per mile. Any difference between this and what he is paid can be deducted as a miscellaneous itemized deduction on Schedule A.
