Standard Mileage Rate vs Actual Vehicle Expenses 2010, 2011
You may know that because the IRS provides a standard mileage rate for the deduction of vehicle expenses used in your business, you are allowed to choose between this rate and the actual expenses you incur in calculating this deduction. Actual expenses include depreciation, licenses, gas, oil, tolls, lease payments, insurance, garage rental, parking, registration fees, repairs, maintenance, tire costs, etc. Expenses for personal property taxes and parking are deductible even if you do take the standard mileage deduction.
Learn More here: http://www.nowpublic.com/standard-mileage-rate-vs-actual-vehicle-expenses-2009-2010
Learn More here: http://www.nowpublic.com/standard-mileage-rate-vs-actual-vehicle-expenses-2009-2010
| Link: | www.nowpublic.com...Search for more tips related to this link |
| Rating: |
97% positive
– 40 total Votes
I Like this Tip
I Don't Like this Tip
|
| Categories: | Mileage Rate Actual Vehicle Expenses |
| Added: | on Nov 25, 2009 |
| Added By: | snowlisa29 |
| Searches: | expense rate actual mileage vehicle |
