The IRS has announced the 2019 standard mileage rates used for calculating deductible costs for operating an automobile for business, charitable, medical or moving purposes.
If you take a business trip during which you also vacation, you can take allowable deductions for travel expenses (i.e., airfare, hotel, cab fare, meals - subject to limitation, etc.) as long as the main purpose of the trip is for business.
Deductibility of local travel If you are self-employed and your residence is your principal place of business, you can deduct expenses you incur in traveling from your residence to any other work location.
Deductibility of local travel If you are self-employed and your residence is your principal place of business, you can deduct expenses you incur in traveling from your residence to any other work location.
Updated Business Travel Expense Rates Take Effect October 1
expenses , business travel expense , Taxes - Planning, Rules and ReturnsWith so many Americans conducting business outside their office, the recent IRS announcement of the 2015-2016 business travel expense rates will certainly impact many. In 2011 alone, American businesspeople took a total of 445 million trips for work-related matters, (source: NYTimes.com 05/03/12) and that figure grows steadily each year.
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