mileage deduction

Last week, our family made a now familiar trip to the hospital for my five-year old. She's been diagnosed with a form of vasculitis known as Henoch-Schonlein Purpura. It is a nasty and invasive -- but fortunately, not contagious -- illness that attacks the joints and blood vessels in your body. As...

When it comes to deductions, many taxpayers miss out -- not because they don't qualify for the deductions, but because they fail to keep good records. It's often difficult to remember on April 15 all of the miles you've driven, charities you've supported and taxes you've paid. Here are five tips...

The IRS made an announcement this month that is a matter of pennies but could significantly affect some taxpayers' 2010 amount owed; by reducing the allowance for mileage deductions. Claiming the mileage traveled for business is, after all, one of the favorite ways to rack up deductions, which...

Starting July 1, 2008, the standard mileage rate for business miles is being increased to 58.5 cents per mile. The rate is currently at 50.5 cents per mile. Over the years, the IRS has somewhat tried to keep up with increasing fuel costs, but they're probably a little behind at this point.The...