During the course of the year, Mr. Winston made use of his personal vehicle for business purposes
Fantastic news! We've Found the answer you've been seeking!
Question:
During the course of the year, Mr. Winston made use of his personal vehicle for business purposes and kept a logbook to keep track of the distance he traveled for work. On January 15, 2021, he put his vehicle into duty and reported a total of 6,365 miles driven for business, 1,546 miles used for commuting, and 2,110 miles driven for personal use. When calculating his deduction, he uses the regular mileage rate, which is his personal preference. For the upcoming tax year (2021), the regular mileage rate is set at 56 cents per mile. As a result, the deduction for Mr. Winston's business miles is as follows:
Posted Date: