Article Date:
July 2012


Word Count:
1367

 

 

Increase Tax Deductions by Knowing the Business Mileage Rules


You can increase your tax deductions by thousands, perhaps many thousands, every year by knowing the tax rules that create deductible business miles.

 

When you know the mileage rules, you can apply them to all your business vehicles. To see how you might use two, three, or more vehicles in your business, see the article titled “How the IRS and Courts Have Approved the Two-Car Tax-Deduction Strategy.”

 

This article gives you what you need to know to get maximum business miles. After all, business miles form the basis for your vehicle deductions regardless of

 

·

how you title your vehicle;

·

which deduction method you chose (actual or IRS mileage);

·

how you operate your business (corporation, LLC, proprietorship, etc.).

 

Your plan begins with knowing what is, and what is not, a business mile.

 

The No-Office Taxpayer

 

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