What is a FAVR Vehicle Reimbursement Plan?

Ben RaseyUncategorized

What is a FAVR Plan? A Fixed and Variable Rate (FAVR) Plan is an IRS Approved, Non-Taxable Vehicle Reimbursement Program. Each vehicle reimbursement is calculated from a standard vehicle, which is unique for each driver based on their geographical location. … Read More

IRS Announces 2022 Mileage Rates

Jim DohertyNews

The Internal Revenue Service has announced new mileage rates for 2022 for use in calculating reimbursements or deductions for tax purposes: Business use: 58.5 cents a mile, up from 56 cents a mile in 2021 Medical use: 18 cents a … Read More

IRS Announces 2021 Mileage Rates

Jim DohertyNews

The Internal Revenue Service has announced new mileage rates for 2021 for use in calculating reimbursements or deductions for tax purposes: Business use: 56 cents a mile, down from 57.5 cents a mile in 2020 Medical use: 16 cents a … Read More

IRS Announces 2020 Mileage Rates

Jim DohertyNews

The Internal Revenue Service has announced new mileage rates for 2020 for use in calculating reimbursements or deductions for tax purposes: Business use: 57.5 cents a mile, down from 58 cents a mile in 2019 Medical use: 17 cents a … Read More

IRS Announces 2019 Mileage Rates

Jim DohertyNews

The Internal Revenue Service has announced new mileage rates for 2019 for use in calculating reimbursements or deductions for tax purposes: Business use: 58 cents a mile, up from 54.5 cents a mile in 2018 Medical use: 20 cents a … Read More

IRS Announces 2018 Mileage Rates

Jim DohertyNews

The Internal Revenue Service has announced new mileage rates for 2018 for use in calculating reimbursements or deductions for tax purposes: Business use: 54.5 cents a mile, up from 53.5 cents a mile in 2017 Medical use: 18 cents a … Read More

Introducing: MileIQ

Jim DohertyNews

We are excited to announce that AutoReimbursement.com is now a partner with MileIQ, the highly rated mileage App available for both Apple iOS and Android. MileIQ will now be integrated into our fully mobile FAVR programs, introducing more options for … Read More

Vehicle Reimbursement – A Complete Guide to IRS Approved Methods

Jim DohertyWhitepapers

Vehicle reimbursement, travel and fleet expenses are often the second largest expense. To manage this, many companies seek an accurate, reliable, and comprehensive plan that identifies the detailed costs specific to each driver for employee-owned vehicles. In this guide, we … Read More