The IRS Just Raised the Mileage Deduction - Your Mileage Log Is Even More Important!
Posted on September 5, 2008 - Filed Under Business | Leave a Comment
The IRS just recently raised the to business mileage deduction to $0.58 per mile. This increase means you really need to keep the most accurate vehicle mileage log possible.
Your mileage log has just gotten that much more important for you if you are keeping track of your mileage for income tax purposes here in the United States.
That’s because, as of July 1, 2008, the tax deduction for business mileage has been increased to $0.58 per mile. This increase means you really need to keep the most accurate vehicle mileage log possible for two reasons:
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