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What costs is IRS milage reimbursement rate of $0.50 per mile intended to cover?

April 26, 2017costs cover IRS milage rate Reimbursement

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What costs is IRS milage reimbursement rate of $0.50 per mile intended to cover?

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I assume the $0.50 per mile should cover gas, tires, regular maintenance, insurance and normal wear on the vehicle. However, my boss says it is also intended to cover my deductable if I’m in an accident or to fix my windshield if it gets broken while driving on business.