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S corp mileage expense
10/16/09 8:19 PM, Viewed by asker 10/17/09 4:13 PM
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Total Views: 83
can i pay myself mileage as an expense item in an s corp
All Replies: Answers (1)
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Answer
10/17/09 9:12 AM
You can reimburse yourself for business use of a personal vehicle. The current rate is .55 per mile. It is recorded as an auto expense. The company can not pay any other auto related expenses or take depreciation on the vehicle.
Marc Barnes
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