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: 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
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
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