Our Archive
Standard Mileage Deduction vs. Actual Auto Expenses
James Stibich
February 21, 2023
If you’re self-employed and spend a significant portion of your business day driving from Point A to Point B, it’s crucial that you track your mileage and auto expenses. There are two methods available for taxpayers to offset their self-employment income with their vehicle costs: i) standard mileage deduction and ii) actual auto expenses. The