| Automobile Expenses |
Which is better - deducting the standard mileage rate or actual expenses? With the increasing cost of gas, it might be a good idea to revisit which tax deduction is the most beneficial - claiming 50 cents per business mile or your actual vehicle expenses.Claiming the standard mileage rate is easier. All you have to do is keep track of your business miles and multiply them by the current rate. In addition to the standard mileage rate, you may also deduct the costs for parking and tolls. Plus, if you are self-employed, you can deduct the interest paid on your car loan. |
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Don Brooks & Associates, Inc.
481 Buckland Rd
South Windsor
CT
USA
06074
| Direct Deposit of Your Tax Refund |
| More options are available to you The IRS is now allowing taxpayers who are due a tax refund the option of having that refund split up and deposited in up to three different bank accounts. |
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