Tracking and Claiming Business Mileage

The standard business mileage rate will be going up slightly in 2024

Business Mileage, Small Business, Small Business Owners, Small Business Tips, Standard Business Mileage Rate, Vechicle / Douglas Freeman

The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents per mile in 2024. The IRS recently announced that the cents-per-mile rate for the business use of a car, van, pickup or panel truck will be 67 cents (up from 65.5 […]

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The cents-per-mile rate for business miles decreases again for 2021

Deductable Expenses, Employee Benefits, Employees, Small Business, Tax Deduction, Tax Savings, Vehicle Expenses / Douglas Freeman

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 expenses for 2021 than you could for 2020 or 2019. This is the second year in

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