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Yes, if you itemize your deductions. The rate is 44.5 cents per mile. The total amount is subject to a 2% AGI limitation and of course you must have enough to exceed the standard deduction amount for your filing status. You must also reduce the expense by any amounts your employer reimbursed you unless those amounts were included in your gross income on your Form W-2.

2007-05-10 10:17:32 · answer #1 · answered by Bostonian In MO 7 · 3 0

once you're an worker, which legally you maximum probable are, mileage is barely deductible in case you itemize, and save the mandatory log of each and all the miles you placed on your motor vehicle that 365 days, or perhaps then you definately can in basic terms deduct the quantity this is over 2% of your AGI for the 365 days. And it may in basic terms decrease your taxable income, would not supply you a refund in case you pay no tax. in case you meet all that, and you're in a fifteen% bracket, make $20,000 entire for the 365 days, and have a mileage deduction of $1000, your tax mark downs may be $ninety. this is 15% of (1000 - 4 hundred). you're remembering to declare all your tips, are not you?

2016-12-11 05:54:56 · answer #2 · answered by Anonymous · 0 0

If you are using your personal vehicle and aren't reimbursed for mileage, you can deduct mileage, but only if you itemize. It's considered an employee business expense - you have to subtract 2% of your AGI from your expenses, and can deduct the amount over that.

2007-05-10 11:05:23 · answer #3 · answered by Judy 7 · 1 0

If you use your own personal vehicle and are not reimbursed for mileage you can deduct same on your return using a 2106 or 2106EZ and itemizing on Sch A. If you have to have a cell phone for directions and orders and etc the cost of the cell phone would also be a business expense.

2007-05-10 10:20:02 · answer #4 · answered by acmeraven 7 · 1 1

Of course, check the IRS website for current rates per mile.

2007-05-10 10:13:37 · answer #5 · answered by Anonymous · 0 1

Yes, there are a few hoops to jump throught but you may be able to do it. I am not 100% sure about the %2 rule mentioned about but check it out.

2007-05-10 10:19:35 · answer #6 · answered by Anonymous · 0 5

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