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Can I Switch From Actual Expenses to Standard Mileage?

Last updated: April 26, 2023 Using a car for business generates a significant amount of expenses for those who drive their vehicle to create revenue, leaving many wondering how to deduct mileage on taxes. The Internal Revenue Service (IRS) offers 2 ways to calculate how much you can deduct from those expenditures each tax year…

IRS Increases Business Mileage Rate

June 10, 2022 The IRS has just announced a mid-year business mileage rate adjustment for the final 6 months of 2022. The new federal business mileage rate will be 62.5 cents per mile, which is a 4-cent increase from the rate of 58.5 cents that will be in force until June 31, 2022. Why is…

MileIQ Alternatives for Mileage Tracking

Last updated on September 15, 2023  Mile IQ Alternatives for Mileage Tracking Up until relatively recently, many consumers who had purchased Microsoft’s 365 Business package were given MileIQ’s mileage tracker as part of a bundle – this app allowed many self-employed people and small business owners access to an app to track miles. On the…

IRS Standard Mileage Rates 2024

Last updated on: May 17, 2024The Internal Revenue Service (IRS) has announced another increase in mileage rates for 2024 for driving a car for business, medical, and moving purposes. The new IRS Standard Mileage Rates are in effect from Jan 1, 2024.IRS Standard Mileage Rates in effect from Jan 1, 2024:67 cents per mile for…

What we bring to your Thanksgiving table

Nov 24, 2021 We’re exactly 500 years after the Plymouth colonists shared a harvest feast with the Wampanoag to thank the tribe for helping the pilgrims get through the previous winter by giving them food during massive scarcity. Thankfully, there are still many things to celebrate, however, ironically, the shortage is around us again with…