Under the Automatic Mileage Method, One Rate Does Not Cover

question 126

Essay

Under the automatic mileage method, one rate does not cover every type of expense. For 2018, what are the rates for business use, charitable, and medical?

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Definitions:

Balance of Payments

A record of all financial transactions made between consumers, businesses, and the government in one country with others.

Accounting Techniques

Methods or principles employed in managing and reporting financial information and transactions.

Exports Equal Imports

This term refers to a situation in balance of trade where the value of a country's exports equals the value of its imports.

Balance of Payments

A comprehensive record of a country's financial transactions with the rest of the world, including imports, exports, and capital flows.