Category: Mileage

Ask the Tax Expert: What is the Maximum Business Mileage Deduction?

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Ask the Tax Expert: What is the Maximum Business Mileage Deduction?

Q: As a self-employed professional, I do a lot of driving and consequently rack up a lot of business mileage. This year my mileage deduction will be well over $7,000. A friend told me that a maximum of $2,000 in mileage expenses can be deducted each year. Is it true that there is an annual cap on the amount of mileage I can deduct?

How Do Lyft Drivers Pay Taxes? Tax Tips for Rideshare Drivers

Posted By ,Posted in Mileage, Small Business Tips.

How Do Lyft Drivers Pay Taxes? Tax Tips for Rideshare Drivers

Being a Lyft driver is a nice way to earn some money but be sure you know about your tax liability and deductions. Let’s go over a Lyft driver taxes, so you’ll be ready come tax time. Keep in mind, these tips will apply for Uber driver taxes, too.

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