Mileage Allowance

Mileage Allowance

A deduction of automobile expenses for people using their vehicles for business, charity, moving, medical or any other purpose that qualifies for a deduction.

Notes:

There are different categories of purposes for deductible automobile-expenses, each of which has a specific cent-per-mile deduction. Careful documentation of the mileage and the reason for the trip is essential for audit-proofing your taxes.

See also: Child Tax Credit, Convention Expenses, Deduction, Exempt Income, Gas Guzzler Tax, Income Tax, Itemized Deduction, Lifetime Learning Credit, Write-Off