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Most states estimate the cost per mile of an automobile at above $0.50/mile for business expenses. When gasoline was >$4, that estimate was estimated to be $1/m
by smileysteve 9y ago
Most states estimate the cost per mile of an automobile at above $0.50/mile for business expenses. When gasoline was >$4, that estimate was estimated to be $1/mile.
You're also not estimating the liability very well. Likelihood and cost of death or injury of 5 people MV to SF and back added with chances of uninsured drivers leaves most drivers well underinsured. Also, the statistical unlikelihood of having a fully occupied vehicle.
Other costs include road subsides, parking subsidies/real estate costs.
- nradov 9y agoThe current IRS rate is $0.535/mi for deductible business expenses. I'm not aware of any states using a different rate.