Tax Tips: Writing Off Mileage on Your Tax Forms

tax tips
tax tips

April 15th is a few months off, but you want to start thinking about tax filing now. Unless, of course, you like the deadline pressure of driving around to find the 24 hour post office in your area on April 14th.

Speaking of driving, the Internal Revenue Service, who often takes, is taking again. For 2008, the rate used to calculate deductible driving costs was 50.5 cents from January to June and 58.5 cents for the last six months. It's all determined by transportation costs, and if you remember, gas prices sky-rocketed in 2008. This year, we're not so lucky. You can only deduct 50 cents per mile for business miles driven.