What does your company compensate for gas when you drive to meetings?
- 5-10 cents /mile
- 10-15 cents /mile
- 20-25 cents /mile
- 25-30 cents /mile
- 30 cents /mile or more
With the costs of gas going up I wanted to increase how much we compensate our designers for driving their own cars to client meetings; mileage compensation.
Currently we offer 28 cents per mile, but I heard from our accountant that 11 cents would be the norm.
So I’d like to hear from you what your company compensates.
$0.11/mile??? No way. Don’t do that. Maybe 11 cents more than you do now, but not 11 cents total. That is far too low.
By way of comparison, I think I got about $0.25 a mile when working a part-time job back in the mid 90s.
Current IRS rate (from what I understand, this is used as a benchmark by many companies) is $0.445/mile (4x what your accountant may have said).
Hope this helps.
We compensate at $.50 (CDN) per Kilometer…but that is more a perk that is allowed tax free as a business owner. The last company I worked for paid $0.45 per Kilometer…which is approximately $0.72 per mile (CDN).
Too lazy to go looking for the CDN to US conversion.
Ours is $0.35
We’ve got 55,000 employees.
I think we are $.41 or $.44 I cant remember
Thanks guys, this has been great help. I’m going to go with 45 cents which matches the IRS estimation and should keep us going for another few years.
$.35 canadian per kilometer, which I think works out to $.48. Our gas is double the average US price though:(