You can use your mileage on taxes to lower your taxable income but only if you’re maintaining an accurate mileage log.
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On this page, you’ll find tips for how to best maximize your miles for tax purposes. This includes knowing what drives you can write off, what the IRS is looking for in your records and other best practices well-suited for small business owners, self-employed workers and freelancers.
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The IRS standard mileage rates for 2019 are:
58 cents per business mile, which is up from 54.5 cents in 2018
20 cents per mile for medical or moving, which was previously 18 cents per mile ...Read more
I recently had the opportunity to travel around the beautiful Northern California Bay Area to try out MileIQ and track my reimbursable business miles as a part-time blogger. Here's my story. ...Read more
Being a Lyft driver is an excellent 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 ...Read more
When you use your car for business there are two ways to calculate your deduction: using the standard mileage rate or the actual expense method. The standard mileage rate method has remained the same ...Read more
This article is about the 2018 mileage rates. Click the link to read about the 2019 mileage rates.
The IRS mileage rate for 2018 is 54.5 cents for every business mile, up 1 cent from last year. ...Read more