The IRS has issued a new standard mileage rate for 2015, increased from 56 cents to 57.5 cents per mile. This rate is used to calculate the suggested deductible cost of operating an automobile for business purposes. To reflect these changes, Tallie has added a new category, “Mileage 2015,” to your account. Those with “Mileage 2014” categories set to 56 cents with no specified End Date have been updated automatically. Everyone else will need to update this category manually. If your business assigns employees into groups, you will need to manually add it to their visible categories. Note that your existing Account and Item settings from “Mileage 2014” have been carried over to “Mileage 2015.”
Q: What if our company uses a different mileage rate than the IRS standard?
A: If your 2014 mileage rate was above or below 56 cents, it will not be updated. We recommend doing so manually. First, create a new Expense Category. Then assign a date range starting on January 1st, 2015, as well as your new chosen rate.
Q: Our employees still need to submit mileage from trips they took in 2014. Will they have to use the new mileage rate?
A: No. As long as your expense entry dates are within the 2014 calendar year, they will still be calculated with the old rate. If your company offers multiple mileage categories, you can manually select the appropriate one.
For any more questions about Tallie or how to change your mileage categories, feel free to email email@example.com.