Mileage Allowance

A deduction of automobile expenses for people using their vehicles for business, charity, moving, medical or any other purpose that qualifies for a deduction.

There are different categories of purposes for deductible automobile-expenses, each of which has a specific cent-per-mile deduction. Careful documentation of the mileage and the reason for the trip is essential for audit-proofing your taxes.


Investment dictionary. . 2012.

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  • mileage allowance — Lease agreements usually establish the average miles per year that the car may be driven during the lease. This is often between 12,000 and 15,000 miles. The lease contract also establishes the amount you ll have to pay for every mile driven over …   Dictionary of automotive terms

  • mileage — mile‧age [ˈmaɪlɪdʒ] noun [uncountable] 1. an amount of money paid for each mile that is travelled by someone using a car for work: • The mileage allowance for use of a personal car for business is up to 44 cents a mile. 2. the amount of use or… …   Financial and business terms

  • allowance — al‧low‧ance [əˈlaʊəns] noun 1. [countable] an amount of money that someone is given regularly or for a special reason: • She earns a package worth $1 million, including a $15,000 clothing allowance. ˌcost of ˈliving alˌlowance [countable] HUMAN… …   Financial and business terms

  • mileage — (also milage) noun ADJECTIVE ▪ annual, weekly ▪ good, high, low ▪ cars that get better mileage ▪ Car for sal …   Collocations dictionary

  • mileage — mile|age [ˈmaılıdʒ] n 1.) [C usually singular, U] the number of miles a vehicle has travelled since it was made ▪ Always check the mileage before you buy a secondhand car. 2.) [C usually singular, U] the number of miles someone travels in a… …   Dictionary of contemporary English

  • mileage — mile|age [ maılıdʒ ] noun 1. ) singular the number of miles that a vehicle has traveled since it was made, or in a particular period of time: What kind of mileage does the car have on it? high/low mileage: a car with high mileage a ) uncount… …   Usage of the words and phrases in modern English

  • mileage — UK [ˈmaɪlɪdʒ] / US noun 1) a) [singular/uncountable] the number of miles that a vehicle has travelled since it was made, or in a particular period of time My annual mileage is about 10,000 miles. high/low mileage: a car with high mileage b)… …   English dictionary

  • allowance — al|low|ance W3S2 [əˈlauəns] n 1.) [C usually singular] an amount of money that you are given regularly or for a special purpose a monthly/annual etc allowance ▪ His father gives him a monthly allowance of £200. allowance for ▪ Do you get an… …   Dictionary of contemporary English

  • mileage — noun 1 (countable usually singular, uncountable) the number of miles a vehicle has travelled since it was made: For sale Red Ford Escort. Low Mileage. 2 (countable usually singular, uncountable) the number of miles a vehicle can travel using one… …   Longman dictionary of contemporary English

  • allowance — See mileage allowance …   Dictionary of automotive terms

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