Category: MileIQ for Teams

Car Allowances vs. Mileage Reimbursement

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Car Allowances vs. Mileage Reimbursement

If you use your personal car for your own business, you can take a mileage deduction to save on your taxes. But what if you drive your own car for your W2 job? Your employer can reimburse you and that often comes through a car allowance or a mileage reimbursement.

Let’s go over the differences between a car allowance and a mileage reimbursement.