Bunny
(1000+ posts)
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Mon Apr-19-04 11:29 AM
Response to Reply #7 |
9. You're right about the taxes. |
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We have to show actual odometer readings on our mileage sheets, otherwise the IRS will count the reimbursement as taxable income.
Also, the purpose of mileage reimbursement is to cover not only gasoline and wear and tear on my car, but also any increase in my insurance premium that may be incurred by me using my private vehicle for work. I rarely use my car for company business, but if I regularly did, my insurance would definitely go up.
Your bike does undergo wear and tear, but uses no gas and probably doesn't have an insurance policy associated with it.
Is is ethical to claim mileage? I dunno. Ask your company.
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