| If you are self employed, and own a business, whether | | | | was for Katrina reasons, the deduction amount then |
| you have an office or it is a home based business, you | | | | increases to 32 cents per mile |
| should be sure to make use of the mileage tax | | | | - For medical and moving, you can deduct 18 cents per |
| deduction. It is basically a way the IRS allows you to | | | | mile. This means the mileage you drove to and from |
| be reimbursed, through a tax deduction, for the | | | | the doctors or dentist is deductible, as well as any |
| business use of you vehicle. You can deduct the | | | | mileage to needed to move your business |
| expenses either by totaling up all of your receipts, or | | | | 2007 Mileage Tax Deduction Rates |
| by using a miles. I would personally recommend using | | | | - For business, you can deduct 48.5 cents per mile |
| the mileage tax | | | | - For charity, you can deduct 14 cents per mile |
| All you need for this is a mileage book. Then, just keep | | | | - For medical and moving, you can deduct 20 cents |
| track of the miles you drive to and from places for | | | | per mile |
| business purposes. There are also deductions allowed | | | | Being self employed, and running your own business |
| for charitable contributions and for medical expenses. | | | | has huge benefits. And better yet, the IRS tax laws |
| Below is a list of the mileage rates, as published by the | | | | are really established and favor the business owner. |
| IRS, for 2006 and 2007. | | | | So, if you own, or are thinking about starting a |
| 2006 Mileage Tax Deduction Rates | | | | business, then make sure to make use of the mileage |
| - For business, you can deduct 44.5 cents per mile | | | | tax deduction. |
| - For charity, you can deduct 14 cents per mile. If it | | | | |