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.
Multiply the number of miles you drove by your company's approved mileage reimbursement rate. For example, if you drove 1,000 miles for work and the reimbursement rate is 28 cents per mile, you would multiply 1,000 by .28 which equals $280.Therefore you should be entitled to a $280 reimbursement from the company you work for or the organization that has agreed to pay you. According to the IRS website, standard mileage rates for 2011 were: 55.5 cents per mile for business miles, 23.5 cents per mile for medical or moving purposes, and 14 cents per mile for driving for charitable organizations.