Federal IRS Car & Vehicle Mileage Deduction for Taxes
This year you will be able to claim 50.5 cents for every mile driven for a business purpose. This is an increase from the previous 48.5 cents per mile.
You will need to have proof of your driving expenses. If you take the standard deduction you will need track miles and if you choose to deduct actual vehicle expenses then you will also need to track other items such as gas, repairs, insurance, and registration. It is very important to keep these receipts and documents organized so that you are not scrambling at the end of the year.
Learn More Here: http://harborfi.typepad.com/tax/2009/12/federal-irs-car-vehicle-mileage-deduction-for-taxes.html
You will need to have proof of your driving expenses. If you take the standard deduction you will need track miles and if you choose to deduct actual vehicle expenses then you will also need to track other items such as gas, repairs, insurance, and registration. It is very important to keep these receipts and documents organized so that you are not scrambling at the end of the year.
Learn More Here: http://harborfi.typepad.com/tax/2009/12/federal-irs-car-vehicle-mileage-deduction-for-taxes.html
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| Categories: | federal IRS car mileage deduction |
| Added: | on Feb 18, 2010 |
| Added By: | seanshepard34 |
| Searches: | deduction car irs mileage federal |
