Standard Mileage vs Actual Expenses - which is better?

In this video, we break down everything you need to know about claiming mileage tax deductions for your business vehicle. We’ll cover:
🚗 Who can claim the mileage deduction 📉 Standard Mileage Rate vs. Actual Expenses Method ✅ Pros and Cons of each method 🔍 IRS limitations and rules
Whether you're self-employed, an independent contractor, or a business owner, understanding these methods can help you optimize your tax deductions.
For more detailed training, check out our full bootcamp: Enroll Here
🔗Useful Links:
🌐 Website: www.remotecpai...
📋 Enroll In My Course - Individual and Business Tax Preparation Bootcamp training for CPAs, EAs and Tax Preparers : www.remotecpai...
Contact info:
✅Email for any questions: [e-mail]
✅Schedule strategy call : www.remotecpai...
✅LinkedIn: / kateryna--khalandach-cpa
Thank you
Kat
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Chapters: 00:01:24 - Who Can Claim Auto Expenses
00:03:04 - Standard Mileage Rate vs Actual Expenses
00:04:49 - Details on Standard Mileage Rate
00:06:41 - Details on Actual Expenses Method
00:08:00 - Pros and Cons of Standard Mileage Rate
00:09:47 - Pros and Cons of Actual Expenses Method
00:11:19 - IRS Limitations for Standard Mileage vs Actual Method
00:12:30 - Conclusion
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[@piyushsaraswat125]

You did really a great work 😇
Thanks for the info

[@notsoboringcpa]

Glad it was helpful!

[@yadi2774]

Great thank you

[@notsoboringcpa]

My pleasure!

[@udayrajmudhiraj143]

What type of things we should avoid making mistakes while reviewing tax returns can you please do the video on this topic

[@notsoboringcpa]

Great idea! Will try my best to do it!

[@udayrajmudhiraj143]

@@notsoboringcpa Thanks a lot 😍

[@AvinashSingh-vj3rk]

❤

[@notsoboringcpa]

☺️

[@yadiralgonzalez9597]

Hello! Thank you for the video. Quick question what about if I have a home office? So, in that case that counts as business miles if I am driving from home to a client’s house? Thank you !!

[@notsoboringcpa]

Yes you can! Basically, if your home is your "Primary place of business" then the mileage to/from clients is deductible

[@yadiralgonzalez9597]

@ Thank you!

[@notsoboringcpa]

📋 Enroll In My Course - Individual and Business Tax Preparation Bootcamp training for CPAs, EAs and Tax Preparers : www.remotecpainla.com

[@aybwoot]

I know we can do standard deduction or itemized but when we do standard deduction why do some tax preparers add in the donations of clothing from nonprofits ? Are they allowed to ? If not what happens ?

[@notsoboringcpa]

do you mean non-cash contributions? It's still part of itemized deductions

[@aybwoot]

@notsoboringcpa yes non cash contributions are they allowed to or will they get in trouble for adding it to the Tax returns while using standard deduction ?