When most people think about specific claimable itemized personal income tax deductions, the first thing that jumps to mind is business expenses. While it's certainly true that a wide variety of write-offs are available for qualifying expenses for your business or enterprise, non-business owners are not excluded. In particular, mileage deductions are claimable by anyone who uses their vehicle for a variety of reasons and records the time spent.
Medical Uses
If you are using your vehicle to transport yourself to and from medical or dental appointments, you can claim a mileage deduction of 16.5 cents per mile for that. The use must be specifically for medical or dental purposes, but within that restriction the actual possibilities are fairly broad. For example, trips to the pharmacy count, as do any trips to actually see a physician or other health professional.
Job Hunting
Doing a lot of driving to get to interviews or research companies? So long as you are seeking employment within the same occupation, you can deduct your travels at a rate of 50 cents per mile. Just keep in mind that you are limited âEUR" if you're seeking to change careers, those costs are not eligible.
Job-Related Education
If you are attending a qualifying school or continuing education program to directly benefit your current employment, you're able to deduct your driving costs between work and school, and possibly even between school and home. You must be a regularly employed individual, working regularly and going to school on a temporary or part time basis. The typical rate is 50 cents per mile.
Charity Work
Do a lot of driving in support of a charity? Those miles may be deductible, typically at a rate of 14 cents. Keep in mind that if the charity is reimbursing you for the driving this likely doesn't apply. Talk to a tax professional if you're not sure.
Business Expenses
Most people are aware that any time behind the wheel on behalf of your own company is deductible. Most don't know that if you're doing it at the behest of your employer and aren't otherwise compensated, that's usually a write off as well. In addition, if you use your car to go between two different places of work in the same day, you can usually deduct that whole trip. The going rate is 50 cents.
Moving
Under certain circumstances, you might be able to write off time spent behind the wheel during a move. However, there are some rather specific and extensive conditions that must be met here. It's best to work with someone to complete your personal income tax forms and determine whether you qualify.
It's not hard to figure out where to find help incorporating these benefits into your return. Just get in touch with any prep expert. They will have a detailed understanding of the complexities involved and be able to assist you.
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