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The Difference Between The Standard Mileage Method and Actual Expenses

Posted in Tax News on June 19, 2012

The Internal Revenue Service (“IRS”) allows taxpayers to choose between the Standard Mileage Method and Actual Expenses. Standard Mileage Method The IRS allows taxpayers to deduct a standard mileage method for business travel.  The current allowance is for 55.5 cents…

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Can You Take Any Tax Breaks From That Vacation?

Posted in Tax News on August 17, 2011

Let’s say you want to combine a vacation with your business travel and possibly deduct a few expenses on your tax return.  Can you do this and not have the IRS look unfavorably at these deductions.  Yes, some business travel…

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