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Many taxpayers have a hard time when it comes to taking auto deductions on their tax return. The rules can be confusing and knowing what documents to have for tax time can be difficult. This short guide can help you understand how the expenses are calculated. There are two ways to calculate your auto expenses. There is the standard mileage rate and there is actual vehicle expenses. Standard Mileage Rate This is the simplest way to get a mileage deduction on your tax retur

What is a tax deduction?

With the tax reform act passed this year you maybe eligible to deduct up to $40,000 in state and local taxes. New for 2025, you can...

Paying tax estimates can be confusing for many business owners, here is a clear cut guide on when to pay tax estimates to the IRS or the...