Recent Articles

IRS Mileage Rate

The Internal Revenue Service set the mileage deduction rate at 56.5 cents for calendar year 2013. This is a 1 cent increase over 2012.

Nondeductible Expenses in Small Business

02/10/2015

One of the more significant expenses for the small business owners is income taxes.  Since most small businesses are tax pass through entities, it is beneficial to the business to have the least amount of net income in order to reduce the tax [...]

Mileage Deduction – Rate for 2015

01/01/2015

On December 10, 2014, the Internal Revenue Service announced the mileage rate deduction for 2015.  They increased the amount allowed 1.5 cents to 57.5 cents per mile.  So how do you calculate and use the mileage rate formula for tax purposes?  If [...]

Cost per Mile – The Basic Formula

03/17/2014

In any industry, especially transportation, it is essential for the owner of a business to understand how much it costs per mile to operate his vehicle, trucks or fleet.  The formula looks simple and in reality it is; but you must understand the [...]

Mileage Deduction – Rate for 2014

01/03/2014

On December 6, 2013, the Internal Revenue Service announced the mileage rate deduction for 2014.  They reduced the amount allowed one-half a cent to 56 cents per mile.  So how do you calculate and use the mileage rate formula for tax purposes?  [...]

Mileage Deduction – New Rate for 2013

12/21/2012

If you are seeking the mileage deduction rate for calendar year 2014, go to this article:  Mileage Deduction Rate for 2014 . The Internal Revenue Service announced the mileage rate deduction for the calendar year 2013 on November 21, 2012.  The [...]