Reimbursement Formula:
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Definition: This calculator determines the reimbursement amount for using a personally owned vehicle (POV) for government business based on miles traveled and the current reimbursement rate.
Purpose: It helps government employees and contractors calculate their mileage reimbursement according to standard government rates.
The calculator uses the formula:
Where:
Explanation: The miles traveled are multiplied by the current government reimbursement rate to calculate the total amount owed.
Details: Accurate mileage reimbursement ensures proper compensation for vehicle expenses including gas, maintenance, and depreciation according to government standards.
Tips: Enter the miles traveled and the current reimbursement rate (default $0.655/mile as of 2023). All values must be > 0.
Q1: What is the current standard mileage rate?
A: As of 2023, the standard rate is $0.655 per mile, but this changes periodically. Always verify the current rate.
Q2: How do I document miles for reimbursement?
A: Maintain a detailed log including dates, destinations, purposes, and odometer readings for each trip.
Q3: Are there different rates for different vehicle types?
A: Some agencies have different rates for motorcycles or mobile homes. Check with your specific agency.
Q4: Can I claim reimbursement for commuting miles?
A: Typically no - only miles traveled between work locations (not home to office) are reimbursable.
Q5: How often does the reimbursement rate change?
A: The General Services Administration (GSA) typically updates rates annually, effective January 1st.