The Great Mileage Payback: 2250 Business Miles, $1316 in Payback In July

YOU CAN DEDUCT 50 CENTS/MILE FOR BUSINESSS MILEAGE IN 2010.

The IRS has reduced the business mileage deduction by 9% from the 2009 figures.

Beginning on Jan. 1, 2010, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

50 cents per mile for business miles driven
16.5 cents per mile driven for medical or moving purposes
14 cents per mile driven in service of charitable organizations

The Automatic Mileage Logger is tax deductible (consult your tax professional) and will help you reclaim what's yours. It can pay for itself in just a few weeks of driving and will ensure you are able to deduct every mile that you are entitled to claim for business, medical or charitable purposes. We have provided everything you need to know regarding the IRS Business Mileage Deduction and how it can help you, or your small business reclaim some of your fuel costs -- Just read through the Related Articles in the sidebar. We also have links related to tax information, tips and advice on using these deduction to your benefit. Read on, and watch the video to learn more about the Mileage Logger.

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Wednesday, July 30, 2008

2250 Business Miles, $1316 in Payback In July

During the month of July we logged 991 business related miles, and because the mileage deduction rate increased on July 1, 2008 from 50.5 to 58.5 cents per mile, we'll be seeing $579.74 in deductible business mileage expense! Add to that another 2152 business related miles to attend a trade show in Chicago, and that adds another $1259 in payback. (we need to confirm if the miles for the the trade show trip are allowable with our tax professional)

Since installing the Mileage Logger in May, 2008 we've documented approx. $2500 in business mileage deductions. Are you logging your miles automatically and deducting every mile you're entitled to? Start logging your business miles automatically with the Mileage Logger.

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