Did they change the mileage reimbursement amount again?
The HR Management & Compliance Report: How To Comply with California Wage & Hour Law, explains everything you need to know to stay in compliance with the state’s complex and ever-changing rules, laws, and regulations in this area. Coverage on bonuses, meal and rest breaks, overtime, alternative workweeks, final paychecks, and more.
Yes, the Internal Revenue Service has issued new rates for 2006. The new optional standard mileage rates are used to calculate the deductible costs of operating an automobile for business. As of January 1, the standard mileage reimbursement rates for employees using a personal vehicle for work (including cars, vans, pickups, or panel trucks) are 44.5 cents per mile for business miles driven; 18 cents per mile driven for medical or moving purposes; and 14 cents per mile driven in service of charitable organizations, other than activities related to Hurricane Katrina relief. (Special higher rates are in effect for Katrina relief driving). Note that the new rate of 44.5 cents per mile is four cents less than the mileage rate used for the final months of 2005, which was a temporary higher rate set in response to rising gasoline costs after Hurricane Katrina. —CELA Editors