Your corporation is allowed to reimburse you for your business mileage throughout the year if you provide the company with evidence.
Unlike partnerships and sole proprietors, a corporate entity must make a reimbursement payment or the deduction is lost; shareholders and employees cannot claim a business mileage deduction on their individual income tax returns.
Please note: The IRS reimbursement rate will change on July 1, 2022 to account for higher fuel costs.
|Standard Mileage Rate deduction (cents per mile)|
|Military moving miles||18.0||22.0|