Joined: 10 May 2004 Posts: 3629 Location: Hillsboro, OR
Post subject: Posted: Tue Oct 19, 2010 1:00 pm
Help others: Review your books and training products here
As a contractor, I am reimbursed $.55 per mile. For the first one, that's about normal. After that, you aren't even getting the equivalent of the tax break.
If your car gets 20 miles per gallon (it should be better as a contractor...mine gets roughly 27), then each gallon of gas would net you 11 dollars. Given that gas is 3 bucks a gallon, and given the wear and tear, you should expect $.55 per mile. 100 miles at $.55 is 55 bucks, which is higher than 48.
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