Standard business mileage rate decreases again for 2021
The optional standard mileage rate used to calculate the deductible costs of operating an automobile for business has decreased in 2021 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 […]
Drive and save with a tax deduction
How much of your day is spent driving from place to place for business? If you use your automobile more than half of the time for business purposes, you may be able to take a tax savings. Determining whether or not the use of one’s automobile qualifies for a tax deduction – and by how […]