In order to make money in the restaurant business, prime costs should generally be in the 60 percent to 65 percent range. How that breaks down between food and labor is less important than achieving a prime cost maximum that produces a satisfactory profit.
The standard mileage rate is by far the easiest to use. With the standard mileage rate, you take the deduction of a specified number of cents for every business mile you drive. The IRS sets the standard mileage rate each year. The 2017 Mileage Rate is 53.5 cents per mile. To figure out your mileage deduction, simply multiply your business miles by the standard mileage rate for the specific year. Example: Ed, a salesperson, drove his car 20,000 miles for business during 2017.
Step 3. Multiply the amount of miles claimed by your employee by the mileage reimbursement rate. For example, if your employee claims 45 miles at the reimbursement rate of 55.5 cents per mile, which is the IRS rate for the final six months of 2011, the reimbursement check equals $24.75.Step 4. Issue payment to your employee for the full amount of the mileage reimbursement.etermine the mileage reimbursement rate. If you reimburse mileage at the same rate as the Internal Revenue Service, check the IRS site for the reimbursement rate at the time the expense was incurred.