Mileage Reimbursement Rates for 2018
Every year, the IRS sets standard mileage reimbursement rates for businesses in the U.S. For 2018, the rates will go up slightly, in accordance with higher gas prices expected for the year.
As of January 1st, 2018, the standard mileage reimbursement rates are:
- 54.5 cents per mile for business miles driven, up 1 cent from the rate for 2017
- 18 cents per mile driven for medical or moving purposes, up 1 cent from the rate for 2017
- 14 cents per mile driven in service of charitable organizations
We recommend that you verify your company's mileage reimbursement rate is set correctly in ClickTime.
In order to edit your company's mileage rate, follow these steps:
- Sign in to ClickTime (you need to be an administrator).
- Click the "Expenses" link on the menu bar under the Company tab.
- Click the "Expense Types" link.
- Click on the name or "edit pencil" icon of your "mileage" expense type.
- Edit the rate value. For example, enter 0.545 for the new federal rate.
- Choose whether to apply the rate change to existing expenses that haven't been approved.
- Save your changes.
If your company has multiple mileage expense types, remember to repeat steps 4-7 above for each appropriate expense type.