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Eke tax breaks out of your car

You may have heard that the federal tax code allows for a mileage deduction when an automobile is used for business purposes. But did you know that you can take mileage deductions for other forms of driving?

Several websites spotlight the requirements of the car mileage deduction and the amount a taxpayer can claim. Here are a few good sites: Lists IRS standard mileage rates for several recent years, including 2013.

Internal Revenue Service: Details standard mileage rate deductible for business-use vehicles.

Nolo: Spotlights auto expenses deduction among key deductions, including rate changes for 2014. Breaks down the 2013 and 2014 mileage rate deductions for vehicle uses.

Eke tax breaks out of your car 02/21/14 [Last modified: Sunday, February 23, 2014 5:58pm]
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