The reimbursement rate and distance units that are used in MileIQ can be customized from the Mileage Rates page within the Settings menu on the MileIQ dashboard. You can log into your MileIQ web dashboard using the same email and password as the app at https://dashboard.mileiq.com.
Once logged in to the dashboard, click on the Settings button next to your username to go to the Settings page. There you can set a custom business rate or set how distances are reported (miles or kilometers).
From the Drives > Mileage Rates section of the Settings menu, a custom rate can be set for calculating the value of business classified mileage.
The default 2021 mileage rate was $.56 per mile and is $.585 for the first half of 2022 and $.625 from July 1st 2022 through the end of the year. However, by clicking and typing in the text box, any amount can be entered. (Note: rate must be greater than $0.00).
Clicking 'Save' will set the new rate throughout MileIQ. Any reports that are submitted will also reflect the updated rate.
The unit MileIQ uses to calculate distance can be changed by toggling the 'Use Kilometers' to Yes or No.
Sliding the toggle to the green 'Yes' will cause MileIQ to re-calculate the distance (and therefore the value) of all drives in MileIQ and convert them to kilometer. Any reports that are submitted will also reflect the new distance unit.
- The business rate can also be edited anytime a report is run. From the drive dashboard, select any number of classified drives and then choose the green button "Report # drives" from the bottom right. Doing so will give you report options, including where to export and some fields to enter report details, such as business rate.
- Adjusting the business rate when reporting drives will only be applied to the drives in current report. Use the Settings page to set a new default rate.
- The standard rate for business driving in 2022 is 58.5 cents per mile. MileIQ updates automatically to reflect this new rate for your 2022 drives unless you have a custom rate already set. Additionally, the mid-year increase is automatically updated to the 62.5 cents per mile rate imposed by the IRS.