TAX TIP OF THE DAY: When you use a car for business, you may - TopicsExpress

TAX TIP OF THE DAY: When you use a car for business, you may deduct mileage expenses by using either the standard mileage rate or the actual expenses of running the car. Actual expenses include such items as gas, oil, insurance, tires, licenses, tags, and repairs. If you elect to claim actual expenses when you first begin using the car for business, you must use this method for the entire tax year. You cannot change to the standard mileage rate deduction. The standard mileage rate for 2013 is 56.5 cents.

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