Mileage is an alternative to using actual auto expense when deducting the cost of using the vehicle for your business. Once you choose to use mileage on a vehicle, you can’t change methods back to actual auto expense. For those who’ve chosen this option, do I have some good news for you!

Mileage for 2019 is up from 54.5 to 58 cents per mile!! This may not seem like a big deal but for many businesses it can be. Let’s say you’re a re-seller traveling to several place to buy your inventory. Or let’s say you work with various horse and cattle as a vet or you shoe horses for clients. You could easily be racking up, up to 10,000 business miles or more in a year! That means your previous 5,450 deduction went up 350 dollars. I can only imagine what this means for the truckers out there.

Always happy to deliver good news! Keep it going bosses!