The IRS recently increased the mileage rate to 55.5 cents per mile.
Sounds like good news… but is it really?
The fact is, the IRS mileage rate can often produce misleading results. Or lead you to think that you don’t really need to keep a mileage log. (You do!)
If you want to learn how to make sure that you’re choosing the best after-tax cash result for your business vehicle, don’t miss my new article titled Tax Tips: Is the New IRS Mileage Rate a Rip-Off or Does It Improve Your Deductions?
Three ways our fact-filled article can help you:
- We’ll explain the impact of the new increase in the IRS mileage rate. When did the new rates take effect? Will they really help put money in your pocket? You’ll get straight answers when you read the full article.
- We’ll warn you about the dangers of “sneaky depreciation.” You might think that your claim of the IRS mileage rates takes care of your deduction, or that there’s no gain or loss on the sale of an IRS mileage-rate vehicle. Wrong! You’ll get the right information when you read the full article.
- You can use our “Magic Calculator” FREE! It was designed to help you decide which to choose: the IRS mileage rate or the actual expense method. If you’re looking for the best after-tax cash benefit you’ll want to read the full article.