Standard Mileage vs Actual Expenses - which is better?

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In this video, we break down everything you need to know about claiming mileage tax deductions for your business vehicle. We’ll cover:

🚗 Who can claim the mileage deduction 📉 Standard Mileage Rate vs. Actual Expenses Method ✅ Pros and Cons of each method 🔍 IRS limitations and rules

Whether you're self-employed, an independent contractor, or a business owner, understanding these methods can help you optimize your tax deductions.

For more detailed training, check out our full bootcamp: Enroll Here

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Thank you
Kat

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Chapters: 00:01:24 - Who Can Claim Auto Expenses
00:03:04 - Standard Mileage Rate vs Actual Expenses
00:04:49 - Details on Standard Mileage Rate
00:06:41 - Details on Actual Expenses Method
00:08:00 - Pros and Cons of Standard Mileage Rate
00:09:47 - Pros and Cons of Actual Expenses Method
00:11:19 - IRS Limitations for Standard Mileage vs Actual Method
00:12:30 - Conclusion

#businessexpenses #BusinessTaxes #TaxPreparation #TaxSoftware #taxes #taxpreparers #taxpreparation #taxpreparer #proconnect #proseriestax #draketaxsoftware #draketax #cchaxcesstax #cch

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You did really a great work 😇
Thanks for the info

piyushsaraswat

What type of things we should avoid making mistakes while reviewing tax returns can you please do the video on this topic

udayrajmudhiraj

I know we can do standard deduction or itemized but when we do standard deduction why do some tax preparers add in the donations of clothing from nonprofits ? Are they allowed to ? If not what happens ?

aybwoot

Hello! Thank you for the video. Quick question what about if I have a home office? So, in that case that counts as business miles if I am driving from home to a client’s house? Thank you !!

Realestatebyyady

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