Mileage Tax Deductions
Here at Mileage Tax Deduction, we're committed to helping you understand what mileage can be deducted from your taxes. There are two different ways to take the vehicle mileage business tax deduction. You can either claim the actual mileage driven for business purposes or you can deduct the actual expense of operating the vehicle for business use.
Vehicle Mileage Business Tax Deduction information. In many cases, you will be required to do some business travel if you are a business owner. Whether you just do a little traveling or a significant amount it is worth deducting on your tax return. Overlooking this deduction could cost you more at the end of the year.
So, what is deductible?
- Miles Driven for Business
- Medical Travel Mileage
- Moving Travel Mileage
- Servicing for Charitable Organization Mileage
Note: Information and deduction restrictions and allowances may change, please consult with a tax professional for further advice.
Mileage Tax Deduction 2009, 2010
You can choose to take these optional standard rates if you are an employee, self-employed, and all other taxpayers if you have vehicle operating costs that fall into tax deductible categories.
How much can I deduct for mileage?
- 50.5 Cents Per Mile For Business
- 14 Cents Per Mile For Charitable
- 20 Cents Per Mile For Medical
- 20 Cents Per Mile For Moving
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