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If you itemize your deductions on Schedule A (Form 1040), you can deduct on line 5c state and local personal property taxes on motor vehicles. You can take this deduction even if you use the standard mileage rate or if you don’t use the car for business.
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When can you deduct mileage to & from work (commuting)? With any rule, comes exceptions. There are circumstances when you're eligible to take a deduction on your commuter mileage. However, this mileage expense must be purely for work purposes and unrelated to personal travel.
6 sty 2017 · If you drive your car for work, you can take a mileage deduction on your taxes. Yet, many people don’t know the IRS has some strict rules on what is deductible business driving. There’s no such thing as a “commuting to work tax deduction.”. But there are circumstances where your drive from home could be tax deductible.
The standard mileage rates for 2023 are: Self-employed and business: 65.5 cents/mile. Charities: 14 cents/mile. Medical: 22 cents/mile. Moving ( military only ): 22 cents/mile. Find out when you can deduct vehicle mileage.
23 maj 2024 · Getting reimbursed for a commute would mean that you’d get income that should’ve been taxed — and that would make your tax return incorrect and could land you with an audit. This article unpacks the IRS's stance on commuting miles and explains how to keep track of mileage correctly to avoid over-reimbursing.
The amount of expenses you can deduct on Schedule 1 (Form 1040), line 12, is limited to the regular federal per diem rate (for lodging, meals, and incidental expenses) and the standard mileage rate (for car expenses), plus any parking fees, ferry fees, and tolls.
17 lis 2022 · The IRS sets a standard mileage reimbursement rate of 58.5 cents per business mile driven in 2022. This rate is based on an annual study of the fixed and variable costs of operating a vehicle, like gas, insurance, depreciation, and standard maintenance.
