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September 01 2011

Standard Mileage Rate vs Actual Vehicle Expenses

Should I Claim The Actual Vehicle Expenses or The Standard IRS Mileage Rate?Filing Income Tax Return ChecklistThe IRS provides a standard mileage rate for the deduction of vehicle miles driven used in your business, you are allowed to choose between this standard mileage rate or the actual expenses you incur from owning and operating a business vehicle.Document Miles Driven or Actual Vehicle ExpensesYou will need to calculate the difference between the two methods to see which choice would be more beneficial to your tax deduction for a business vehicle.

June 30 2011

IRS Allowable Mileage Reimbursement Tax Deduction Rules Per Mile

Do You Wonder What The IRS Allowable Mileage Reimbursement Tax Rate Is?Tax Deductible Medical ExpensesThe allowable IRS mileage rate tax deduction for 2010 is 50 cents per business mile driven.It is wise to make sure you claim every tax deduction you legally are able to claim.
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