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Will I get Audited for Mileage?

Are you a business owner who writes off business expenses under Schedule C? If yes, then you should be aware that there are certain costs that you will write off that will be vulnerable to IRS audits. Schedule C Taxpayers are Targeted by IRS Audits The IRS has a limited budget with which to verify […]

What are the IRS Commuting Mileage Rules?

If you regularly drive to work, you can sometimes make a mileage deduction on your taxes. Many people do not understand the rules that the IRS has laid down regarding what is deductible. There is no such thing as a commuting tax deduction. However, there are circumstances where you can drive from home and the […]

All You Need to Know About Mileage Deductions

If you regularly use a vehicle in your small business, you need to learn how to deduct the expenses you incur for running the vehicle. Understanding the tricks around mileage deduction, the tax advantages of buying versus leasing and the tax implications of depreciation of the vehicles. Some Pertinent Questions to Ask Yourself about Mileage […]

What are the Benefits of Premium Petrol?

Premium petrol is also known as high octane fuel. The more the compression, the higher the energy that will be needed to combust the fuel. High octane petrol is primarily used on high-performance engines such as turbocharged cars because the fuel does not burn prematurely. Unless your car explicitly needs the high octane petrol, you […]

How to Claim Mileage on 2018 Taxes

Every time you use your vehicle for business, the internal revenue service allows you to write off the amount of money you use for the car. For example in 2018, you can deduct as much as 54.5 cents for every business while you drive. You can only get the most out of your mileage if […]

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