???? Stop Missing Out On $1000s in Tax Deductions | The New Rules for Car & Truck Expenses

???? New IRS Car & Truck Tax Expense Rates For Businesses Update

Due to all-time high inflation levels, the Internal Revenue Service has increased the standard mileage rate for taxpayers using their cars and trucks in their businesses. The Standard Mileage Rate for business owners was $.585, and the IRS decided to increase the rate to $.625 starting July 1 st, 2022.

In this video, I explain how business owners can use this tax deduction properly and how to avoid any potential pitfalls while claiming car & truck expenses

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