{"id":2886,"date":"2019-11-25T07:53:33","date_gmt":"2019-11-25T12:53:33","guid":{"rendered":"https:\/\/falconexpenses.com\/blog\/?p=2886"},"modified":"2021-12-02T04:50:56","modified_gmt":"2021-12-02T09:50:56","slug":"2020-irs-mileage-reimbursement-rates","status":"publish","type":"post","link":"https:\/\/falconexpenses.com\/blog\/2020-irs-mileage-reimbursement-rates\/","title":{"rendered":"2020 IRS Mileage Reimbursement Rates"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_74 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69f8e3d64b85b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69f8e3d64b85b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/falconexpenses.com\/blog\/2020-irs-mileage-reimbursement-rates\/#What_are_the_2020_IRS_mileage_reimbursement_rates\" >What are the 2020 IRS mileage reimbursement rates?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/falconexpenses.com\/blog\/2020-irs-mileage-reimbursement-rates\/#Who_can_take_the_standard_mileage_rate_deduction\" >Who can take the standard mileage rate deduction?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/falconexpenses.com\/blog\/2020-irs-mileage-reimbursement-rates\/#Benefits_of_taking_the_standard_mileage_deduction\" >Benefits of taking the standard mileage deduction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/falconexpenses.com\/blog\/2020-irs-mileage-reimbursement-rates\/#Disadvantages_of_using_the_standard_mileage_rate\" >Disadvantages of using the standard mileage rate<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/falconexpenses.com\/blog\/2020-irs-mileage-reimbursement-rates\/#Reasons_why_the_IRS_sets_these_rates\" >Reasons why the IRS sets these rates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/falconexpenses.com\/blog\/2020-irs-mileage-reimbursement-rates\/#How_to_track_mileage_deductions_with_2020_IRS_mileage_reimbursement_rates\" >How to track mileage deductions with 2020 IRS mileage reimbursement rates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/falconexpenses.com\/blog\/2020-irs-mileage-reimbursement-rates\/#Other_Expense_Tracking_Solutions\" >Other Expense Tracking Solutions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/falconexpenses.com\/blog\/2020-irs-mileage-reimbursement-rates\/#About_Falcon_Expenses\" >About Falcon Expenses<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_2020_IRS_mileage_reimbursement_rates\"><\/span>What are the 2020 IRS mileage reimbursement rates?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Many professionals that take the standard mileage rate tax deduction are probably wondering what amounts the IRS has set for the 2020 IRS mileage reimbursement rates. <br><br>This post was updated on Jan 1st, 2020 to include the 2020 mileage reimbursement rates that were announced by the IRS on Jan 1st, 2020.<br><br>The 2020 Standard Mileage Reimbursement Rates are as follows:<\/p>\n\n\n\n<p>Business: 57.5 cents per mile (down from 58 cents in 2019)<br>Charitable: 17 cents per mile (down from 20 cents in 2019)<br>Moving: 20 cents per mile (currently fixed by congress)<\/p>\n\n\n\n<p>Check out the link below to read the original announcement from the IRS:<br><a href=\"https:\/\/www.irs.gov\/newsroom\/irs-issues-standard-mileage-rates-for-2020\">https:\/\/www.irs.gov\/newsroom\/irs-issues-standard-mileage-rates-for-2020<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p>Learn how you can effortlessly track your mileage expenses with Falcon Expenses mobile solution for mileage expense tracking. <br><br><strong><a rel=\"noreferrer noopener\" href=\"http:\/\/bit.ly\/2sXMFNr\" target=\"_blank\">Download&nbsp;Falcon&nbsp;Expenses<\/a><\/strong><br>Falcon Expenses is free to download. If you&#8217;re on a desktop it&#8217;s best to use your iPhone and search for Falcon Expenses on the app store.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_can_take_the_standard_mileage_rate_deduction\"><\/span>Who can take the standard mileage rate deduction?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In most cases, you can deduct the standard mileage rate amount for any work mile driven that is not defined as a commuting mile. These drives include drives for the following reason:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Business meals and entertainment<\/li><li>Customer visits<\/li><li>Airport \/ Travel<\/li><li>Travel between offices (that are different from a regular work location)<\/li><li>Temporary job sites<\/li><li>Errands \/ supplies<\/li><li>Odd jobs<\/li><\/ul>\n\n\n\n<p>In regards to commuting miles, commuting is defined as miles driven to and from a regular place of work. Please review the following post for more information about what defines &#8216;commuting&#8217;, (insert post link here). Further, for those that are temporary<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Benefits_of_taking_the_standard_mileage_deduction\"><\/span>Benefits of taking the standard mileage deduction<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Fewer Expenses to Track<\/h3>\n\n\n\n<p>The alternative to using the 2020 IRS standard mileage reimbursement rates is to itemize each tax deductible car expense. For some, this is more time-consuming and does not maximize their tax deductions. However, for others, this itemized method might be more beneficial. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">More Convenient<\/h3>\n\n\n\n<p>It&#8217;s more convenient in many cases to have one, per-mile, amount to use to calculate business-use car tax deductions.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p>Learn how you can effortlessly use the Standard Mileage Rate method to track your mileage expenses with Falcon Expenses mobile solution for mileage expense tracking. <\/p>\n\n\n\n<p><strong><a rel=\"noreferrer noopener\" href=\"http:\/\/bit.ly\/2sXMFNr\" target=\"_blank\">Download&nbsp;Falcon&nbsp;Expenses<\/a><\/strong><br>Falcon Expenses is free to download. If you&#8217;re on a desktop it&#8217;s best to use your iPhone and search for Falcon Expenses on the app store.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Disadvantages_of_using_the_standard_mileage_rate\"><\/span>Disadvantages of using the standard mileage rate<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Depending on your circumstances, you might realize more tax deductions using the Actual Car Expense method. Please review the following article for more details about how to itemize expense car expenses using the IRS Actual Car Expense method, <a rel=\"noreferrer noopener\" href=\"https:\/\/falconexpenses.com\/blog\/how-to-maximize-business-use-car-tax-deduction\/\" target=\"_blank\">How to Maximize Business Use Car Tax Deductions<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Reasons_why_the_IRS_sets_these_rates\"><\/span>Reasons why the IRS sets these rates<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol class=\"wp-block-list\"><li>To give the self employed the convenience of a rate that they can use to deduct from their taxes versus itemizing every expense. This rate has been calculated by taking into consideration current economic conditions, inflation, gas prices, and other economic factors by professionals.<\/li><li>To provide employers with a minimum reimbursement rate that they must use to reimburse employees for using their personal car for work use. Employers often reimburse employees and contractors at a rate higher than the standard rate specified by the IRS.<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_track_mileage_deductions_with_2020_IRS_mileage_reimbursement_rates\"><\/span>How to track mileage deductions with 2020 IRS mileage reimbursement rates<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Use a mobile app like Falcon Expenses to conveniently track and calculate 2020 IRS mileage reimbursement rates. Falcon Expenses allows you to log your mileage expenses while on the go. Therefore, never forget an expense again, and maximize your tax deduction. Falcon Expenses offers three different ways to track mileage expenses.<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Odometer Log<\/strong> <br><br>Enter the start and end odometer readings of a trip, Falcon Expenses calculates the miles driven and the expense reimbursement amount based on the custom reimbursement rate set in the app. <br><br>Check out this article for more information,\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/falconexpenses.com\/blog\/how-to-keep-an-odometer-log-of-business-mileage\/\" target=\"_blank\">Falcon Expenses Odometer Log Feature<\/a>.<br><\/li><li><strong>Start and End Trip Addresses<\/strong><br><br>Enter the start and end address of the tax deductible commute or transportation, Falcon Expenses will calculate the miles of the driving distance and the expense reimbursement amount. <br><br>Check out this article for more information,\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/falconexpenses.com\/blog\/falcon-addresses-mileage-expense-feature\/\" target=\"_blank\">Falcon Expenses Addresses Feature<\/a>.<br><\/li><li><strong>GPS Mileage Tracker<\/strong><br><br>Use an integrated GPS tracker to track tax deductible business transportation miles as the miles are driven. Falcon Expenses automatically calculates the deductible mileage expense amount when the trip is complete. <br><br>Check out this article for more information, <a aria-label=\"Falcon Expenses GPS Tracker (opens in a new tab)\" rel=\"noreferrer noopener\" href=\"https:\/\/falconexpenses.com\/blog\/how-to-use-falcon-expenses-gps-mileage-expense-tracker\/\" target=\"_blank\">Falcon Expenses GPS Tracker<\/a>.<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Other_Expense_Tracking_Solutions\"><\/span>Other Expense Tracking Solutions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><a href=\"https:\/\/falconexpenses.com\" target=\"_blank\" rel=\"noreferrer noopener\">Falcon Expenses<\/a> offers other features such as a receipt scanner and time tracker. Many of these features come in handy if you&#8217;re using the Actual Car Expense method for your transportation expense deductions. Further, expenses are captured and safely stored in Falcon. Late quickly organize expenses into IRS compliant reports. Then, export expense reports from your phone in PDF or spreadsheet format. Basically, Falcon Expenses has everything for your expense tracking and reporting needs.<\/p>\n\n\n\n<p>Please check out the following articles for more information about Falcon Expenses features and services:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a rel=\"noreferrer noopener\" href=\"https:\/\/falconexpenses.com\/blog\/business-expense-receipt-management\/\" target=\"_blank\">How to Scan and Manage Receipts with Falcon Expenses<\/a><\/li><li><a rel=\"noreferrer noopener\" href=\"https:\/\/falconexpenses.com\/blog\/falcon-expenses-expense-report-template\/\" target=\"_blank\">Falcon Expenses Expense Report\u00a0Template\u00a0&amp;\u00a0What\u00a0Expense\u00a0Reports\u00a0Look\u00a0Like<\/a><\/li><li><a rel=\"noreferrer noopener\" href=\"https:\/\/falconexpenses.com\/blog\/mileage-expense-log-requirements\/\" target=\"_blank\">What is Included in Falcon Expenses Mileage Expense Log<\/a><\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"About_Falcon_Expenses\"><\/span>About Falcon Expenses<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Falcon Expenses is a top-rated expense and mileage tracker app for self-employed and small businesses to track expenses and tax deductions. <strong><em>Falcon customers record $6,600, on average, in annual tax deductions. Get started today. <\/em><\/strong>The longer you wait, the more tax deductions you miss.<\/p>\n\n\n\n<p>Automatically track mileage expenses and expenses, keep an odometer log, receipt vault and log billable hours. Quickly organize expenses by time period, project, or client. Easily create expense reports and mileage logs with your expense data for email to anyone in PDF or spreadsheet formats, all from your phone. Falcon&#8217;s expense report template is IRS compliant. Use for keeping track of tax deductions, reimbursements, taxes, record keeping, and more. Falcon Expenses is great for self-employed, freelancers, realtors, delivery drivers, couriers, business travelers, truckers, and more.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>What are the 2020 IRS mileage reimbursement rates? Many professionals that take the standard mileage rate tax deduction are probably&#46;&#46;&#46;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":2919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[35,987,81,986],"class_list":["post-2886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mileage-expenses","tag-irs","tag-irs-mileage-reimbursement-rate","tag-mileage-expenses","tag-mileage-reimbursement-rates"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/falconexpenses.com\/blog\/wp-json\/wp\/v2\/posts\/2886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/falconexpenses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/falconexpenses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/falconexpenses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/falconexpenses.com\/blog\/wp-json\/wp\/v2\/comments?post=2886"}],"version-history":[{"count":0,"href":"https:\/\/falconexpenses.com\/blog\/wp-json\/wp\/v2\/posts\/2886\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/falconexpenses.com\/blog\/wp-json\/wp\/v2\/media\/2919"}],"wp:attachment":[{"href":"https:\/\/falconexpenses.com\/blog\/wp-json\/wp\/v2\/media?parent=2886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/falconexpenses.com\/blog\/wp-json\/wp\/v2\/categories?post=2886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/falconexpenses.com\/blog\/wp-json\/wp\/v2\/tags?post=2886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}