How many cents a mile is good?

How many cents a mile is good?

Here is a list of our partners and here’s how we make money. In 2021, the standard IRS mileage rate is 56 cents per mile for business miles driven, 16 cents per mile for moving or medical purposes and 14 cents per mile for charity miles driven.

How many cents are in a mile?

58.5 cents per mile driven for business use, up 2.5 cents from the rate for 2021, 18 cents per mile driven for medical, or moving purposes for qualified active-duty members of the Armed Forces, up 2 cents from the rate for 2021 and.

How do you calculate average cost per mile?

Calculating cost per mile becomes a simple equation once you know your mileage and total expenses. Divide your total expenses by the total number of miles driven, and the result is your cost per mile.

How do you add up cents per mile?

To calculate your cost per mile, simply divide your total expenses for the month by the total number of miles you have driven that month. For example, if your expenses totaled $3,000 and you drove 10,000 miles, your cost per mile is $0.30.

Is 58 cents a mile good?

The standard mileage rate increased to 58 cents per mile in 2019. This is a huge increase from 2018’s rate of 54.5 cents per mile….Mileage rates: the good news and the bad news.

Mileage purpose	2019	2018
Business	58 cents/mile	54.5 cents/mile
Medical	20 cents/mile	18 cents/mile
Charitable	14 cents/mile	14 cents/mile

Is 40 cents per mile Good?

Average truck driver pay per mile is between 28 and 40 cents per mile. Most drivers complete between 2,000 and 3,000 miles per week. That translates into average weekly pay ranging from $560 to $1,200. If you drove all 52 weeks in a year at those rates, you would earn between $29,120 and $62,400.