Irania Graterol Accounting & Taxes

04/12/2026

04/04/2026

“We help small business owners save up to 30% on taxes with proven strategies.”

04/03/2026

There are three ways to get an extension until October 15 to file your tax return:
• Pay online and check the box
• Use Free File
• Request an extension by mail using Form 4868

See: www.irs.gov/extensions

04/03/2026

Another refund on its way!

03/31/2026

My client is so thoughtful she brought 🍪 cookies to the office for all of us to enjoy.
Tax preparation relief 😅 !!

01/13/2026

The Tax Reduction Letter article explains that if you get reimbursed for business mileage as an employee, tax writers may treat your personal vehicle as used for business and then talk about how selling that vehicle could trigger a gain or loss for tax purposes. This is the same theme as your quote (though that specific article is behind a paywall).

A tax-law firm article notes that when you sell or trade in a vehicle used for corporate business, you may need to report a taxable gain or deductible loss on IRS Form 4797 (the form used to report sale of business property).

General IRS rules (in Publication 463 and other IRS docs) cover how to allocate business vs. personal use, how reimbursements at standard mileage rates work, and that reimbursement at the IRS rate is generally nontaxable if substantiated with records.

📌 Key Tax Points Related to That Topic

Here’s how this works in tax terms (U.S. federal tax):

Business Use & Reimbursement

If you drive your personal vehicle for work and your employer reimburses you at the IRS standard mileage rate, that reimbursement is generally not taxable income to you (if properly documented).

Vehicle Basis & Sale

If you (or your business) treat the vehicle as used for business (even if it’s personally owned), and if you have claimed deductions or reimbursements tied to business use, you often must determine an adjusted basis in that vehicle. That adjusted basis affects whether you have a gain or loss when you sell it.

Reporting Gains/Losses

If the vehicle is treated as a business asset for tax purposes, and you sell it, then gains or losses may need to be reported on a business tax form (e.g., Form 4797).

🧠 Why It Feels Surprising

Many people think of their car strictly as personal property. But for tax purposes:

Using your personal car extensively for business and getting mileage reimbursements can create a business-use position.

That puts the car into tax territory where basis adjustments and income/loss on sale can matter.

The “surprise” comes because you may not realize that a sale or trade-in can trigger a taxable event if the IRS considers part of the vehicle a business asset.

12/30/2025

IRS releases 2026 tax brackets: Here’s what changes, who it affects
Single filers
37% for incomes over $640,600 (up from $626,350)
35% for incomes over $256,225 (up from $250,525)
32% for incomes over $201,775 (up from $197,300)
24% for incomes over $105,700 (up from $103,350)
22% for incomes over $50,400 (up from $48,475)
12% for incomes over $12,400 (up from $11,925)
10% for incomes $12,400 or less (up from $11,925)

Married filing jointly
37% for incomes over $768,700 (up from $751,600)
35% for incomes over $512,450 (up from $501,050)
32% for incomes over $403,550 (up from $394,600)
24% for incomes over $211,400 (up from $206,700)
22% for incomes over $100,800 (up from $96,950)
12% for incomes over $24,800 (up from $23,850)
10% for incomes $24,800 or less (up from $23,850)

Standard deduction increases for 2026
The standard deduction allows taxpayers to reduce their taxable income, meaning they may owe less when filing.

Single or married filing separately - $16,100, up from $15,570
Married filing jointly - $32,200 up from $31,500
Heads of households - $24,150 up from $23,625