Does anyone here work for a company that pays you back for work travel miles while driving an electric vehicle?
I charge my car at home, so I don’t get receipts for it. Do I just track my miles and have the company pay me the standard rate, like 60 cents a mile or whatever it is?
It doesn’t matter if you drive an electric or gas car, you still pay for insurance, the car wears down, and there’s depreciation to consider. The IRS calculates an average cost for all of that, which is around $0.60 per mile. That’s what you should be reimbursed for using your personal car.
Bao said:
It doesn’t matter if you drive an electric or gas car, you still pay for insurance, the car wears down, and there’s depreciation to consider. The IRS calculates an average cost for all of that, which is around $0.60 per mile. That’s what you should be reimbursed for using your personal car.
Exactly, this sums it up perfectly.
Bao said:
It doesn’t matter if you drive an electric or gas car, you still pay for insurance, the car wears down, and there’s depreciation to consider. The IRS calculates an average cost for all of that, which is around $0.60 per mile. That’s what you should be reimbursed for using your personal car.
Here’s the IRS info if you want to read up on it: https://www.irs.gov/pub/irs-drop/n-24-08.pdf
Where you charge your car doesn’t matter. Just use the standard IRS rate, which is $0.67/mile now. Don’t send in fast charging receipts because you’re already getting paid for your miles. You can’t get reimbursed twice.
It might vary by company, but for me, when I rent a car, I just mark the fast charging expenses as ‘fuel’ on my company card. For my own car, I just submit the miles for reimbursement and enjoy the $0.60/mile.
You might want to run it by your travel coordinator to make sure, but this works for me.
Always go with the per-mile rate because it covers more than just gas. It takes into account wear and tear on your car, which is especially good for those of us with electric vehicles.
Back in the 80s, my company reimbursed by the mile no matter what kind of car you had. I’m sure it was the same even before that.
Ren said:
Does anyone here work for a company that pays you back for work travel miles while driving an electric vehicle?
I charge my car at home, so I don’t get receipts for it. Do I just track my miles and have the company pay me the standard rate, like 60 cents a mile or whatever it is?
Normally, you should get paid per mile when using your personal car, which is set by a federal tax allowance. But, some employers might choose to pay less. Driving an EV doesn’t really change this.
Ren said:
Does anyone here work for a company that pays you back for work travel miles while driving an electric vehicle?
I charge my car at home, so I don’t get receipts for it. Do I just track my miles and have the company pay me the standard rate, like 60 cents a mile or whatever it is?
I get paid 5 NOK per kilometer here, which is around €0.50.
Ren said:
Does anyone here work for a company that pays you back for work travel miles while driving an electric vehicle?
I charge my car at home, so I don’t get receipts for it. Do I just track my miles and have the company pay me the standard rate, like 60 cents a mile or whatever it is?
If you’re in the US, stick with the standard IRS mileage rate. Trying to do it differently could get messy when it comes to taxes. Any company that wants to do something else is probably just making it harder for everyone.