Transportation

The transportation industry covers a vast spectrum of operations. From the local taxi company to large container ships, no other industry covers more ground than transportation. Learn about the importance of cost per mile and the value of this measurement standard to make a profit in the transportation industry.

Mileage Deduction – Rate for 2015

Odometer

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 you are a new business entrepreneur, you will want to know how to...

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Cost per Mile – The Basic Formula

Cost Per Mile

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 underlying elements to truly appreciate and comprehend the calculation.  Simply stated the...

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Mileage Deduction – Rate for 2014

Odometer

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?  If you are a new business entrepreneur, you will want to know how...

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