Recent Articles

Tax Deduction for Mileage

A tax deduction is allowed for each mile driven for tax purposes when using your personal vehicle for business purposes.

Mobile Food Vending – Profitability and Issues


Many of you are wondering if you can make a good living as a mobile food vendor.  If there is profit, how much?  Are there any issues in this industry that will persuade me from becoming a mobile food vendor?  This article is going to answer [...]

Nondeductible Expenses in Small Business


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 [...]

Cost per Mile – The Basic Formula


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


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


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 [...]