2024 Mileage Reimbursement Rate Formula. Having employees use their own vehicle for work can be expensive. For example, if you’ve driven 500 business miles, your employer uses standard mileage for reimbursements, and the year is 2024, the equation would look like this:
How to calculate car mileage reimbursement rate? To calculate the mileage reimbursement rate for 2024, use the formula: