standard mileage rate

A few years ago, it appeared any company that required you to drive for your business would just hand over the keys to a new car -- my friends in sales or service seemed to magically have a new vehicle every few months. In this economy, however, that has changed. While more jobs require reliance on...

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...

If you use your automobile for your job or business, you might be able to take a deduction for the expenses associated with those business miles. There's a catch, however. You must track your mileage and be able to document the number of miles driven for business purposes.After you have added up...