The IRS mileage rate for 2018 is 54.5 cents for every business mile, up 1 cent from last year. The standard mileage rate is an important figure for determining how large your mileage deduction will be.
It’s very important for construction workers to track mileage because it can lead to a major deduction at tax time.
Do your small business employees ever work over forty hours a week? They could be subject to federal overtime pay rules. Learn about the overtime rules so you can meet the demands of business while staying compliant with the law.