2007-07-27 16:33:22 · 4 answers · asked by alex_saitta70 1 in Business & Finance ➔ Taxes ➔ United States
The rate at the present time is 48.5 cents. You will be able to take that as a deduction only if you itemize your deduction using a form 2106 and it will be subject to the 2% limitation as a miscellaneous deduction.
2007-07-28 03:59:12 · answer #1 · answered by ? 6 · 0⤊ 0⤋
48.5 cents per mile. If you will be an independent contractor, you can deduct that on schedule C from your income. But if you are an employee (they take taxes out of your paycheck and pay matching social security and medicare payments for you) then you can only deduct it if you itemize instead of taking the standard deduction, and can only deduct the unreimbursed expenses that are over 2% of your adjusted gross income.
2007-07-28 04:00:41 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
48.5¢ per mile.
2007-07-27 16:46:52 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
.27 or 31 i forgot exact.....
2007-07-27 16:40:59 · answer #4 · answered by theevilfez 4 · 0⤊ 4⤋