18/11/2022
Driving to meet a client for a business meeting? Driving to deliver your business products as a part of your day to day operation?
Driving to the airport for a business trip?
A lot of small business owners often over look the business mileage deduction and miss out on an opportunity to reduce taxes!
The 2022 mileage deduction was increased to $0.625 per mile which means for 2022 you could write off $625 for every 1,000 BUSINESS miles driven!
It’s really simple to calculate and there are a couples softwares out there that can make it really easy like Quickbooks Online so be sure to track your miles throughout the year to take advantage of this deduction!