IRS announces the 2021 standard mileage rate
For most, this new year represents a clean slate, a time to reflect and refocus. For CFOs, it also brings the 2021 standard mileage rate.
For most, this new year represents a clean slate, a time to reflect and refocus. For CFOs, it also brings the 2021 standard mileage rate.
It’s no secret that the pandemic changed the way people work and companies operate, especially in regards to nonemployee expenses.
Business travel in 2022 started off slow due to the Omicron variant, but it’s starting to pick up again. And due to the current economy, travel costs are expected to rise – especially as the weather warms and travelers of all types hit the road. Hotel rates will be 13% higher globally this year, according […]
As much as your finance department dislikes scrutinizing expense reports, travelers may disdain filling them out even more.
As finance leaders know well, business travel is booming. And that puts controlling travel spend high on your priority list.
If you have employees on the road, driving personal vehicles for work or employer-provided vehicles, check out these IRS updates for 2024. First, IRS said in a recent notice that the business standard mileage rate for 2024 is 67 cents per mile. That’s a 1.5-cent increase over the 2023 mileage rate of 65.5 cents per […]
Companies that streamline their T&E process by using the high-low substantiation method for business travel, you have some new numbers. IRS recently announced the new numbers, effective Oct. 1, 2021. And like with the per-diem rates, your team has many changes to adjust to. IRS Notice 2021-52 outlines them for you, your A/P team and […]
Heads up: IRS has announced the new standard business mileage rate for 2022, and just as expected, it’s increased. So it’ll cost your company more to reimburse employees’ vehicle travel this coming year. Here’s what you and your A/P pros need to know. Detailed mileage rate info The business mileage rate was expected to go […]
This holiday season, many of your employees are feeling extra generous … with your company’s money! Out-of-policy spending skyrockets in December, say the folks at AppZen.
In today’s dispersed and remote world, credit cards are an efficient payment method for business purchases. But not every employee needs a corporate card, meaning many use their own personal credit cards.
The payment method employees use when traveling can have a major impact on your T&E process – for better or for worse.
As COVID restrictions continue to ease, business travel is increasing. Unfortunately, it’s also being impacted by the current economic climate – and you should expect prices to keep rising for the remainder of the year and the beginning of 2023. That’s according to the 2023 Global Business Travel Forecast from CWT and the Global Business […]
Though business travel was slowed by the pandemic, it’s starting to pick up again, and trip approval requests will be trickling in.
One glance at all the expense reports that come through your department, it’s plain to see that some locations spur much higher costs than others. Which places can you expect to tally up the highest costs this year? According to the 2019 Corporate Travel Index from Business Travel News, the most expensive cities are: New […]
Expense reimbursement is getting more and more complicated for your finance department, due largely to a newer legislative trend.
To stay profitable and grow, businesses like yours need to take advantage of opportunities to become more efficient. However, spend management – which may be hindered by manual processes or cobbled-together financial tech resources – can be an obstacle to that growth. Over the last half of 2021, travel, corporate card and expense management software […]
Get up to date with our Blueprints.