What are Cents Per Mile (CPM) Employee Vehicle Reimbursements?
Cents per mile (CPM) are suggested rates at which to reimburse your employees for using their personal vehicle for work. The IRS and CRA set them...
Effective January 1 2021, the IRS Standard Mileage Rate for 2021 is down 1.50 cents to 56 cents per mile. This is the recommended cents per mile reimbursement rate.
Cents per mile (CPM) are suggested rates at which to reimburse your employees for using their personal vehicle for work. The IRS and CRA set them...
The CRA standard rate for mileage reimbursement remains the same in 2021, 59¢ per kilometer for the first 5000 driven, 53¢ per kilometer after that.
Finance and operations leaders often ask us when to pay the IRS standard Cents per Mile rate to their company drivers. We tell them when it is...