Thanks to Mom on Dealz for sharing her series, Ask an Accountant! Sharon is married to an experienced accountant. We’re heading back into tax season so get your tax questions answered from a professional.
See more Ask an Accountant posts to see if you’re tax question has been answered.
I travel quite a bit to teach coupon classes. Can I deduct the mileage? If so, what are the rates?
Yes you can! 2011 was split in rates for this deduction. The following chart from the IRS website provides you with the dates and rates for mileage deduction.
Note:Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.
Please keep in mind this post is for informational purposes only and answers given are very general. Do not rely on this column for definite tax answers as many things depend on individual circumstances. Please contact your personal accountant or financial advisor for your particular situation.
photo credit: austinpost.org
IRS Circular 230 Notice: Any U.S. tax advice in this written or electronic communication was not intended or written to be used, and it cannot be used by the taxpayer, for the purpose of avoiding any penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions