Every new business owner is so excited to be able to deduct car expenses when they open their business. I know exactly what all the gurus on Tik Tok are telling you. But I have to give it to you straight. Beauty business owners usually have limited mileage they can deduct for tax purposes. It's not that you can't take a mileage deduction. That's not what I'm saying at all. What I am saying is that the deduction isn't as large as most beauty professionals are hoping. BUT in 2020 you may have done one particular thing differently that could change that! Read on to find out more. Today we’ll dig into whether Standard or Actual mileage is better for your situation, and how to easily track your mileage for a deduction.
What kind of miles are deductible for me?
Alrighty, first of all, in case there was any confusion: personal miles driven are not deductible. That much should be obvious, but to clarify, this means any driving you did, even in a...
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