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The Methodist Church Payroll and Benefits SectionBRIEFING NOTESINDEXCar Benefits and Mileage Rates (IN 0712) Central Stipends System Certificate of Age Exception Certificate of Coverage (for US ministers)
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How to fill out car benefits and mileage

01
Gather all necessary documents such as your car logbook, receipts for fuel and maintenance expenses, and any other relevant paperwork.
02
Determine the standard mileage rate set by the IRS for the tax year you are filing for.
03
Calculate your total business mileage by keeping track of the odometer reading at the beginning and end of each business trip.
04
Determine your total business expenses by adding up all the fuel, maintenance, and other relevant costs incurred for business purposes.
05
Complete the appropriate forms provided by your employer or tax authority. Include details of your business mileage and expenses.
06
Attach the required supporting documents such as receipts and logbooks to substantiate your claims.
07
Double-check all the information provided for accuracy and completeness.
08
Submit the filled-out forms and supporting documents to your employer or tax authority according to the provided instructions.
09
Keep a copy of all the submitted documents for your records.

Who needs car benefits and mileage?

01
Car benefits and mileage are primarily needed by employees who use their personal vehicles for business purposes.
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This includes sales representatives, delivery drivers, and any other individuals who regularly drive their vehicles for work-related activities.
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Self-employed individuals who use their personal vehicles for business purposes also need to track car benefits and mileage for tax deductions.
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It is also beneficial for employers and tax authorities to track car benefits and mileage to ensure accurate reimbursement and tax calculations.

What is Car Benefits and Mileage Rates (BN 0712) Form?

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Car benefits and mileage refer to the tax benefits provided by an employer for the use of a company car for personal reasons, as well as the reimbursement for the use of personal vehicles for work purposes.
Employees who receive car benefits and mileage from their employer are required to report this information on their tax return.
Employees must keep detailed records of their car usage and report this information on their tax return using either the standard mileage rate or actual expenses method.
The purpose of car benefits and mileage is to ensure that employees are properly reporting their use of company cars and personal vehicles for tax purposes.
Employees must report the value of any car benefits received from their employer, as well as the number of miles driven for work purposes.
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