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Miles driven x .545 would be a simpler way to calculate the costs of driving. It is the reimbursement rate the IRS uses, and is supposed to be all-inclusive to
by ProfessorLayton 9y ago
Miles driven x .545 would be a simpler way to calculate the costs of driving. It is the reimbursement rate the IRS uses, and is supposed to be all-inclusive to the car itself. This number is continuously updated, and there is a high incentive to keep it as accurate as possible for most people.[1]
[1] https://www.irs.gov/newsroom/standard-mileage-rates-for-2018-up-from-rates-for-2017 https://www.irs.gov/newsroom/standard-mileage-rates-for-2018...
- TheCoelacanth 9y agoThat's an average, though. It varies considerably depending on many factors. Generally speaking, the less that you drive, the higher the per mile cost will be because there are fewer miles to amortize the fixed costs over.