Cents Per Mile Estimator

Employers and Employees can use this estimator to calculate an estimate the cost of the personal miles driven using a company vehicle using the cents per mile estimator. *WARNING! Results are estimates, not guarantees.* By pressing the button below, you are agreeing to Workforce 2080's Privacy Policy as well as Workforce 2080's Terms Of Use.

Last Updated 12/19/2024 @ 11:56 PM CDT

Do you expect the employee to drive at least 10,000 miles in a calendar year with the company vehicle?

This page was last updated on 12/28/2023 @ 11:13 PM CDT

The employees total personal mileage driven for the year:

The Standard Mileage Rate: (effective as of 1/1/2024 CLICK HERE to learn more.)

Since the employee provided their own fuel, the standard mileage rate will be reduced by $0.055 cents. The adjusted standard mileage rate the employee will be charged for all personal mileage driven will be:

The total taxable wages which need to be added to the employee will be:

**Please keep in mind this would added to the employees taxable wages and reported on the W2 as taxable income; however, it is *not* physically paid to the employee as they received the benefit of driving the vehicle for personal use as the benefit. You would want to ensure this is an In/Out earnings for your organization where you insert it for taxable wages, then remove it at the end after taxes have been calculated so you don't physically pay the employee the amount as wages. You can think of it similar to cash tips which were already paid, but need to be taxed.**

**The above number is an estimation and should only be used as a reference point. Questions regarding the amounts you are paid, deducted, or taxed should all be brought to your employer for further clarification. Workforce 2080 provides these estimations to assist employees and employers determine a rough estimation of what taxes, payments, or deductions *could* be. These estimations should not be construed as implict or explicit guarantees in any way. Many factors come into play, such as rounding of figures in Payroll Software, errors in the submission through this portal etc. Workforce 2080 assumes no risk with these estimations and provides these tools to help educate the general population. All users who use these products and estimators outside of their intended use assume risk when used outside of the scope of educational and general knowledge.