As with the minimum wage increase, New York is staging benefit increases, beginning with 50 percent of an employeeâs average weekly wage, capped to 50 percent of the statewide average weekly wage. The average weekly wage will increase to 67 percent by 2021, with a 67 percent cap.
2. Calculate your business mileage. Mileage deducted for business purposes includes travel to clients or customers, going to a business meeting away from a regular workplace, going to a temporary workplace if you have a regular place of work or traveling among several offices within a region.. Calculate your total at the end of the year. Multiply the total number of miles traveled throughout the year by the mileage rate for each category. For instance, you may deduct 14 cents per mile when working for charitable organizations and 57.5 cents per mile traveled for business.
Mileage Reimbursement. Companies are willing to reimburse mileage to compensate employees so as to better retain and recruit people they need, according to HR Hero. Typically, company requirements for mileage reimbursement are set based on the annual IRS standard rate for business travel.For example, in 2013, a business could pay up to 56.5 cents per mile and write it off as a business expense. This is much simpler than keeping detailed records of actual operating expenses.ompanies can pay a mileage reimbursement that counts as a business expense and that is tax-free for employees as well. However, if they don't set requirements that follow Internal Revenue Service rules, both the company and the employees may lose their tax advantages.