Business Mileage Rate Is Up for 2025

Business Mileage Rate Is Up for 2025

The IRS has issued the 2025 cents-per-mile rates that can be used to calculate tax-deductible vehicle operating costs. Effective Jan. 1, 2025, the standard mileage rate for the business use of a car, van, pickup truck or panel truck is 70 cents per mile. This is up...
4 Key Tax Questions About 2025 Taxes

4 Key Tax Questions About 2025 Taxes

Right now, you may be more focused on what you’ll owe (or receive as a refund) when you file your 2024 tax return than on tax planning for the new year. However, as you work through your annual tax filing, you should familiarize yourself with amounts that may have...