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Cottage Food Law ( What Does The IRS Allow for Mileage )

If your employees manually monitor mileage, you may obtain a free Excel mileage log form to provide to them so they know what to anticipate from their reports. The IRS Standard Mileage Rate is a yearly mileage reimbursement rate established by the IRS for use by workers, contractors, and employers for tax reasons. You designate a predetermined sum, such as $500 per month, and pay it to all employees who use their vehicle on the job using a flat car allowance. The allowance, however, is taxable income for the employee and subject to FICA taxes. According to the IRS, if you drive to meet with a customer and then return home, the entire journey is considered business-related and qualifies for a mileage deduction.

You can deduct miles driving from your company site to work-related activities, such as dropping items off at the post office. If you run your business from a place other than your home office, you can't deduct miles for the travel there since it counts as commuting. Even though many of us require a daily dosage of caffeine to complete our jobs, commuting to and from work is considered a personal journey. It's Simple to Deduct Mileage