Multiply business miles by the reimbursement rate per mile.
Overview
Mileage reimbursement pays employees or contractors for business driving using a cents-per-mile rate.
Enter miles driven and the rate per mile (employer policy or a standard mileage rate you choose). Reimbursement = miles × rate.
Keep a contemporaneous log of business purpose and miles; this tool only multiplies the totals you enter.
Steps
Business miles for the trip or period.
Company or standard reimbursement rate.
Review reimbursement dollars.
Run personal vs business miles separately.
Refresh when policy or IRS rates change.
Math
reimbursement = miles × ratePerMile
Reimbursement scales linearly with miles at the chosen per-mile rate.
Worked cases
120×0.67 = $80.40
$80.40 reimbursement.
350×0.67 = $234.50
$234.50 reimbursement.
120×0.50 = $60
$60 reimbursement.
Why use this
Questions