Employers with employees who operate personal vehicles for business use can adopt the IRS-established standard mileage rate to determine reimbursement. The rate for 2023 is 65.5 cents per mile and is determined based on a study of fixed and variable costs of operating a vehicle.
If you are a business owner with employees operating employer-owned vehicles on behalf of your business, you should invest in a commercial or business auto insurance policy. For assistance evaluating your auto policy needs, consult with the experts at Bukaty Property and Casualty.
