joliebingen6632 joliebingen6632
  • 22-01-2020
  • Business
contestada

What is austin's mileage expense deduction (at the standard mileage rate) for his business as a personal trainer?

Respuesta :

jepessoa
jepessoa jepessoa
  • 24-01-2020

Answer:

$1,653

Explanation:

Austin can only file a mileage expense deduction for the miles he drives for business purposes; only 2,850 miles were driven for business purposes from his to the gym. Miles driven from your home to work or vice versa are not deductible.

to calculate the mileage expense we multiply the amount of qualifying miles times the standard deduction rate = 2,850 miles x $0.58 per mile = $1,653

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