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Yeah, but no. That's an inflated number that takes into account insurance, licensing, depreciation and all the other long-term costs of owning a car that's used for business. That's why I reached out to that company who makes the calculation for the IRS to hammer out what it ACTUALLY costs to drive five extra miles. This page triplogmileage.com/guid…
Yeah, but no. That's an inflated number that takes into account insurance, licensing, depreciation and all the other long-term costs of owning a car that's used for business. That's why I reached out to that company who makes the calculation for the IRS to hammer out what it ACTUALLY costs to drive five extra miles. This page https://triplogmileage.com/guide-category/irs-mileage-rate-explained/ is pretty informative, and it says that the reimbursement rate is now $0.22 per mile for trips that are for medical purposes, $0.18 per mile for moving, and $0.14 per mile driven in the service of charitable organizations.
Insurance and certainly depreciation depend on miles driven. For my Jeep, I calculate gas at 15 cents, tires at 1-2 cents, and cost of the car ($40,000 over 160,000 miles) at 25 cents per mile. Your consultant has some crazy numbers.
You would have the car anyway. It would depreciate over time anyway. You would be paying insurance, licenses and other costs anyway. The marginal cost of that 5 miles is nowhere near 65 cents a mile.
The depreciation is a function of miles AND time. I just plugged in my mileage (140000) vs 40k miles at TrueCar and the difference is $11500 just because of 100,000 extra miles. That is 11.5 cents per mile solely due to miles. The gas and tires are solely per mile. So, not counting maintenance, which is largely per mile, I’m still at 28 cents per mile.
It isn't the scenery for me but the far fewer semi's and the much lower risk of hitting a massive traffic jam due to accident or time of day. I always continue from the Skyway on the Indiana toll road to the South Bend area, vs I80. I also preferred taking Congress, LSD and Stoney Island to taking the Ryan, when using the Skyway.