Tags: Mileage Deduction

How to Work for Lyft

How to Work for Lyft

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

Standard Mileage Deduction or Actual Expense Method For Ridesharing?

Standard Mileage Deduction or Actual Expense Method For Ridesharing?

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

What is the Maximum Business Mileage Deduction?

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 ...Read more

What Is the IRS Standard Mileage Rate for 2018?

What Is the IRS Standard Mileage Rate for 2018?

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

Common Errors For Mileage Log Books: Avoid These Mistakes!

Common Errors For Mileage Log Books: Avoid These Mistakes!

There are many facts & myths about the mileage deduction. We've included a few mistakes people have made while using mileage log books below. ...Read more

What Are The Standard Mileage Deduction Rates & Rules?

What Are The Standard Mileage Deduction Rates & Rules?

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

Standard Mileage Rate vs Actual Vehicle Expenses

Standard Mileage Rate vs Actual Vehicle Expenses

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