Have the looming time and financial constraints of a being a business owner put the brakes on your entrepreneurial dreams? You can be your own boss and make a pretty penny driving as a Lyft ...Read more
Q. This is my first year as a ridesharing driver. I would like to use the actual expenses method to calculate my mileage deduction for 2018 because I paid for some major repairs. Thus, my actual ...Read more
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 ...Read more
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 ...Read more
Updated: December 15, 2018
You can use the mileage deduction to offset the cost of using a personal vehicle for business reasons. The standard mileage rate changes each year. It includes factors ...Read more
If you drive a personal vehicle for business, you have two options for deducting your vehicle expenses. You can use the standard mileage rate, or you can use the actual expense method.
Which is ...Read more