If the surge in gas prices is cutting into your bottom line, there’s some tax relief available.. The IRS has adjusted the mileage rate you can claim for business vehicle use. As of July 1, 2022 the rate you can claim is 62.5 cents per mile for your vehicles. As always you should be tracking business miles driven as a part of the overall miles driven during the year. In addition, with this mid-year rate change, you need to track the business miles driven between Jan 1 and Jun 30 separately from the miles driven between Jul 1 and Dec 31.
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