Accurately tracking vehicle mileage is often overlooked in small business accounting and tax preparation. Either mileage is underreported due to lack of records or a fear of being audited, or it’s over-reported, also due to lack of records, or a “I know how much I drove” attitude.
Although it’s best if taxpayers have a small notebook [...]

Getting out and conducting business is a basic necessity for any business person these days even with the easy of digital communications coming on like mad. Fortunately, Congress knows as much and tax law has long allowed for the deduction of costs related to driving around on business.
If you are looking for a simple tax [...]

The Internal Revenue Service today issued the 2009 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2009, the standard mileage rates for the use of a car (also vans, pickups, or panel trucks) will be:

55 cents [...]