• driving wisely

    How To Use The New IRS Mileage Rate To Deduct The Cost Of Your Car

    Unless you're an accountant or a salesman, you may not have noticed the IRS just upped the mileage deduction rate for privately owned vehicles to 58.5 cents per mile. Sounds like the perfect time to find out how far we could turn our daily driver into a government tax rebate on wheels. We've decided to use my daily driver as an example to see if we could, hypothetically of course, deduct as much as we're actually spending to drive it. Without further ado, here's our quick guide to deducting the cost of your car. More »
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    1:00 PM on Wed Jul 9 2008
    By Andrew Stoy
    26,837 views, 34 comments

    Latest by schoolpsych: Spent a college summer pushing business memberships for Sam's Club, getting reimbursed for miles. Used my motorcycle, at 55 mpg. more »

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