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Submitted By: Betty
Answered: December 29, 2015 11:50 am
Answered: December 29, 2015 11:50 am
If I have a decal for my business on my truck, can I deduct all of my mileage as being for business?
No. Having a decal or a removal sign that helps to advertise your business does not entitle you to deduct all of your driving as business mileage. You’re limited to the actual miles driving for business purposes, such as seeing customers and meeting with vendors.
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Tax Glossary
Self-employment tax
Tax paid by self-employed persons to finance Social Security coverage. In 2007, there are two rates. A 12.4% rate applies to a taxable earnings base of $95,700 or less and a 2.9% rate applies to all net earnings.
