The Daily Deduction

Traveling for Business this Season?

If you're heading over the river and through the woods to Grandmother’s house, your travel costs are all your own.

But if you're doing some business traveling this holiday week or did some company travel any other time of the year, document your miles so you can deduct those costs.  Write off the miles you drive in 2012 for business at the standard mileage deduction rate of 55.5 cents per mile.  

The IRS reports that standard mileage deduction rates will rise in 2013 to 56.5 cents per mile. See the Full IRS Update about Mileage Rates for 2013.

Posted To: The Daily Deduction By: Lauryn on 12/21/2012 02:00:00 AM
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