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You are a contractor and drive your car 20,000 miles during the year: 12,000 miles for business use and 8,000 miles for personal use. You can claim only 60% (12,000 ÷ 20,000) of the cost of operating your car as a business expense.
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However, if you use the car for both business and personal...
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Commute mileage is NOT tax-deductible. However, all other business-related mileage throughout the day IS tax-deductible. Related: IRS Mileage Rates 2024: What Drivers Need to Know. When can you deduct mileage to & from work (commuting)? With any rule, comes exceptions.
1 lut 2022 · Contents. What are business miles? What are commuting miles? How business vs. commuting miles work. The two ways to deduct business mileage. How to track your miles. What are business miles? The IRS lets self-employed people claim car-related tax write-offs based on the business miles they drive every year. What counts as a business mile?
21 gru 2022 · The new tax law eliminates this break for most people from 2018 through 2025, but self-employed taxpayers can still claim business miles. Learn more about the rules.
Business miles you drove / Total miles you drove in the year = Business use. You can’t deduct commuting miles — the distance you drive from your home to work. However, you can deduct the cost of traveling from one business location to another. Use the standard mileage rate or the actual expenses method to figure your expenses.
