The price of gas is down from a year ago. How does this affect the amount your business can deduct for business driving in 2021?
Rather than keeping track of the actual cost of operating a vehicle, employees and self-employed taxpayers can use a standard mileage rate to compute their deduction related to using a vehicle for business. But you might also be able to deduct miles driven for other purposes, including medical, moving and charitable purposes. What are the[ … ]