If you use your personal car for your own business, you can take a mileage deduction to save on your taxes. But what if you drive your own car for your W2 job? Your employer can reimburse you and that often comes through a car allowance or a mileage reimbursement.
The mileage deduction is a great way to save on your tax bill. But there are some misconceptions about this valuable deduction. Let’s go over some facts and myths about the mileage deduction.
Myth: You Need An Odometer Reading for Every Trip
Spotlight Interview: Chuck Levun On Educating CPAs And Attorneys On Partnership, LLC, and S Corporation Flow-Through Planning On Four Costly Business Mistakes They Make (Part 1)
Navigating A Sales Tax Audit: A Comprehensive Guide To Protecting Your Business
Citizens Against Government Waste: The Prime Cut Series (#5)
How To Receive Your R&D Payroll Tax Credit
IRS Form 8938 (Statement of Specified Foreign Financial Assets): Reporting Requirements Overview
Recent Comments