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You may be able to use the standard mileage rate instead of actual expenses to figure the deductible costs of operating a passenger vehicle, including a van, an SUV, a pickup, or a panel truck. If you want to use the standard mileage rate for a vehicle you own, you must do so in the first year you place your vehicle in service.
17 gru 2021 · Page Last Reviewed or Updated: 23-Oct-2023. Share. Print. IR-2021-251, December 17, 2021 — The Internal Revenue Service today issued the 2022 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
. 1. Choose Your Method of Calculation. 2. Collect All Relevant Documents. 3. Calculate Your Eligible Deduction. Standard Mileage Method. Actual Expense Method. 4. Fill Out the Form. 5. Retain Your Records. Tip for Maximizing Your Mileage Deductions. Common Mistakes to Avoid While Claiming Mileage. Reimbursements.
22 lut 2023 · Tax Planning. How To Calculate Mileage Deductions on Your Tax Return. By Robin Hartill. Updated on February 22, 2023. Reviewed by Lea D. Uradu. View All. Photo: Luiz Alvarez / Getty Images. You have options for deducting business miles on your tax return. Learn the IRS mileage rate and tips to keep track of your commuting expenses.
