Normally, the IRS releases the next year’s mileage information by the end of October. This year, we’re feeling lucky to get it in mid-December.
Category Archives: Mileage
*AskTaxMama Newsletter, *Tax Quips, Auto Expenses, Charities, Contributions, Medical, Mileage, Volunteering
2016 Mileage
21
Mar
Mar
TaxMama® and Ken Jeffries interview: LISTEN TO PODCAST: [s3audio url=”https://taxmama.audioacrobat.com/download/TaxMama_1-2016_Mileage.mp3″ /] Ken: It’s TaxQuips Time from TaxMama.com . Today TaxMama covers deductible mileage. What kinds of mileage are deductible by individuals and businesses?buy fluoxetine online https://www.mobleymd.com/wp-content/languages/new/fluoxetine.html no prescription TaxMama: Actually, there are four ways to take advantage of vehicle-related deductions: Medical mileage Moving Mileage Job […]
Today TaxMama® hears from Mike in the TaxQuips Forum, who has a common type of question. “I work in sales as an employee. May I itemize my clothing expenses and Mileage?”
Today TaxMama® hears from Idlkotr in the TaxQuips Forum, with a good question. “I have the opportunity to be an independent contractor. I am an occupational therapist who will be working with disabled children in their home. Thus, a lot of driving. I will be doubling my income. I do not have a clue how […]
Today TaxMama® hears from Pope in the TaxQuips Forum, with a request. “Could you publish a table showing 2013 & 2014 standard tax items. Things like standard deductions; personal exemptions; mileage rates (business, medical, charity); income limits– phaseout of itemized deductions; etc.?”
Today TaxMama® hears from Straffan in the TaxQuips Forum, with this quick question. “Do you have to keep a separate log with start and stop odometer readings for each business trip? Or can you just add mileage notes to a daily planning diary? Would you still have to include odometer readings in the diary to […]
Today TaxMama® hears from TaxSeason in the TaxQuips Forum, with this question. “Is there an easy or quick way to figure the commuting miles for people who file a Schedule C? (ie…5% of business miles)?”
Today TaxMama® hears from Randal in the TaxQuips Forum with a sensible question. “I am an outside salesperson working as a sole proprietor, getting 1099s each year. My largest deduction is mileage. I earn less than $30k most years. If I setup an LLC to run my business through, will I lose my mileage deduction?”
Today TaxMama® hears from Walter in the TaxQuips Forum with a most astute question. “Is there a limit to how many miles of standard mileage auto/truck expense a self-employed taxpayer can take on their Schedule C for a given year? The portion of the business standard mileage rate treated as depreciation is on average about […]
Today TaxMama hears from Guy in the TaxQuips Forum with an interesting situation. “My wife took a part time job at the local community college campus about two miles from our house in 2010. Once every week or two she would travel to the campus at another town about 40 miles away. For this travel […]
Courtesy of IRS Military personnel have some unique duties, expenses and transitions. Some special tax benefits may apply when moving to a new base, traveling to a duty station, returning from active duty and more. These tips may put military members a bit “at ease” when it comes to their taxes. Moving Expenses If you […]
Courtesy of IRS https://www.irs.gov/pub/irs-drop/a-11-40.pdf The following standard mileage rates will apply: January 1 – June 30: 51 cents per mile for business miles driven July 1 – December 31: 55.5 cents per mile for business miles driven January 1 – June 30: 19 cents per mile driven for medical or moving purposes July 1 – December […]
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