As the Federal Reserve interest rate benchmark continues to reach 15-year highs and operating costs continue to increase, many companies have been looking for ways to retain employees while maintaining company costs. A fixed and variable rate (FAVR) program has been popular … Read More
IRS Announces 2026 Mileage Rates
The Internal Revenue Service has announced new mileage rates for 2026 for use in calculating reimbursements or deductions for tax purposes: The rates apply to fully electric and hybrid automobiles, as well as gasoline and diesel-powered vehicles. Additionally, the standard … Read More
AutoReimbursement.com Achieves SOC 2 Compliance
At AutoReimbursement.com, trust and security are fundamental to who we are. We are proud to share that we have successfully issued a SOC 2 Type II report, demonstrating our commitment to maintaining the highest data protection and operational excellence standards. … Read More
IRS Announces 2025 Mileage Rates
The Internal Revenue Service has announced new mileage rates for 2025 for use in calculating reimbursements or deductions for tax purposes: As stated on the IRS website, these rates apply to fully-electric and hybrid automobiles, as well as gasoline and … Read More
Vehicle Reimbursement – A Complete Guide to IRS Approved Methods
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
Why zip code-sensitive insurance cost data is important in an FAVR Program?
In the vehicle reimbursement industry, there is constant talk about the importance of data when building reimbursement programs. At first glance, companies may elect for a taxable car allowance that pays a fixed amount to all drivers regardless of their … Read More
IRS Mileage Rate 2024 Alternative Solutions
Is the IRS-Standard Mileage Rate Too Expensive? Companies are looking for alternatives with the 2024 IRS standard mileage rate for business use increasing to 67 cents per mile. Furthermore, as vehicle operating costs fluctuate, choosing the right reimbursement solution will … Read More
IRS Announces 2024 Mileage Rates
The Internal Revenue Service has announced new mileage rates for 2024 for use in calculating reimbursements or deductions for tax purposes: Additionally, the standard vehicle cost used to calculate FAVR (Fixed and Variable Rate) programs may not exceed $62,000, up … Read More
IRS standard mileage rate vs. Fixed and Variable Rate Program
As the new year approaches, many companies are exploring various options for reimbursing drivers who frequently use their personal vehicles for business purposes. These options may include the IRS Standard Mileage Rate, car allowances, and other accountable (non-taxable) programs. Currently … Read More
AutoReimbursment.com Recognized by CFO Tech Outlook as a Leader in Business Expense Management
Employee travel programs are often the second largest expense for any company, next to employee compensation. Based on your employees’ physical location, costs can vary from city to city. Understanding the cost differences is challenging. Ensuring that employees are fairly … Read More