The Cents-Per-Mile Rate for Business Miles Decreases Again for 2021

This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-and-one-half cents, to 56 cents per mile. As a result, you might claim a lower deduction for vehicle-related [...]

By |2021-02-01T12:28:34-05:00February 1st, 2021|Categories: Blog, Tax|Tags: , , , , , , |Comments Off on The Cents-Per-Mile Rate for Business Miles Decreases Again for 2021

Higher Mileage Rate may Mean Larger Tax Deductions for Business Miles in 2019

This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business increased by 3.5 cents, to the highest level since 2008. As a result, you might be able to claim a [...]

By |2020-01-03T19:35:26-05:00January 14th, 2019|Categories: Blog, Tax|Tags: , |Comments Off on Higher Mileage Rate may Mean Larger Tax Deductions for Business Miles in 2019
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