The Internal Revenue Service announced today that the standard business mileage rate for transportation or travel expenses in 2015 is to increase to 57.5 cents a mile from 56 cents a mile in 2014.
The standard mileage rate for the use of an automobile as part of a move for which the expenses are deductible or for medical care is to decrease to 23 cents a mile from 23.5 cents a mile in 2014.
The IRS noted that the maximum standard automobile cost that can be used in computing the allowance under a fixed- and variable-rate plan remains at $28,200 for automobiles and is $30,800 for trucks and vans, up from $30,400.
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Time & Pay is a professional payroll service provider located in Johnson City, TN. We service businesses of all sizes and types throughout the United States. Founded in 1992, Time & Pay provides businesses with complete payroll services , guaranteed payroll tax compliance, automated time and attendance systems and services, pay-as-you-go worker’s comp, human resource management systems and services, and more. We provide our customers with the cost effective tools you need to better manage your payroll, your employees and your business. Time & Pay’s services guarantee you will save money, time and aggravation and we back them up with the customer service you expect and deserve. Contact Us today to learn why business owners throughout the country are saying:
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