Tags: Mileage Deduction

Ask the Tax Expert: Ridesharing, Standard Mileage Deduction or Actual Expense Method

Ask the Tax Expert: Ridesharing, Standard Mileage Deduction or Actual Expense Method

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

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

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 ...Read more

What Is the IRS Mileage Rate for 2018?

What Is the IRS 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

Standard Mileage Deduction Rates & Rules

Standard Mileage Deduction Rates & Rules

Updated: August 7, 2018 Mileage deduction is a tax write-off used to offset the cost of using a personal vehicle for business reasons. The standard mileage rate changes each year and includes ...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

How The Best Mileage Tracking App Saves You Money

How The Best Mileage Tracking App Saves You Money

A mileage tracking app is the best way to keep track of your miles for tax or business purposes. You may be thinking, "Can't I just use a pen and paper?" Yes, but the best mileage tracking app has ...Read more