Business Purposes
As of July 2008, you are able to deduct up to 58.5 cents per mile driven for business. This is almost a 9 cent increase from the previous amount allowed. This amount covers cars, vans, pickups, or panel trucks.
This deduction can be used if you are an employee of a company and use your own vehicle or if you are self-employed. This amount for 2011 will be 51 cents per mile as the piece of gas has decreased.
Medical & Moving Purposes
You may deduct mileage for either one of these expenses. For 2011this amount will be 19 cents per mile. Your move must be related to the start of new work, at least 50 miles farther from your previous home, and you must work full time for at least 39 weeks during the first 12 months after your move. To deduct medial related mileage expenses then the medical appointment must fall under deductible medical expenses.
Charitable Driving Purposes
You may deduct up to 14 cents per mile driven for charitable purposes. This amount will remain unchanged. The organization that the driving is done for must be a qualified organization and you must be using your vehicle to provide some type of free service to the organization.
To find even more mileage deductions, visit TurboTax online.TurboTax online offers maximizers to get you the most savings possible.
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