When it comes to tracking your miles for taxes, we often talk about the mileage deduction and the mileage reimbursement. But there are other tax reasons to keep a mileage log. Let’s dive into the medical expense deduction and what role medical mileage plays. We’ll also discuss who can take this deduction, as well as what records you have to keep.
The mileage rates 2015 for business drives is 57.5 cents per mile. The IRS decreased the standard mileage rate for 2016 to 54 cents per mile. Let’s go over what the business mileage rate is and what it means to you.
If you drive your car for work, you can take a mileage deduction on your taxes. Yet, many people don’t know the IRS has some strict rules on what is deductible business driving. There’s no such thing as a “commuting to work tax deduction.” But there are circumstances where your drive from home could be tax deductible. Learn about the IRS commuting rule