![]() ![]() ![]() You can use a mileage calculator to determine how far you drove in a day for each purpose. The IRS allows you to deduct the miles that you used to earn business income, but it does not allow you to deduct any miles associated with the personal use of a vehicle. However, the car that you use for your ridesharing services is the same car that you use to pick your children up from school. Imagine that you drive for Uber or Lyft and use your personal vehicle to do so.Īs you can imagine, you could put thousands of miles on your car for business purposes. The IRS makes the optional standard mileage rates high enough that they are supposed to cover all expenses associated with the wear-and-tear that you put on your car. So, for instance, you cannot deduct things such as oil changes or new windows. When using the optional standard mileage rate, you’re not permitted to deduct any other expenses incurred from the vehicle. 14 cents for each mile driven for a charitable organization.20 cents for each mile driven for moving or medical reasons.58 cents for each mile driven for business purposes.The 2020 IRS optional standard mileage rates are: Use a Mileage Calculator to Optimize Business EfficiencyĮach year, the Internal Revenue Service allows independent contractors to deduct standard mileage rates.Side Hustles The best part-time money-making opportunities.Careers Gigs you can turn into a career.Browse Companies Browse all companies offering gigs.Tasks Quickstart Guide The basics of making money performing common tasks.Rideshare Quickstart Guide The basics of providing safe rides via rideshare services.Freelancing Quickstart Guide How to enter into the gig economy as a freelancer.Lodging Quickstart Guide How to get started renting your home on lodging platforms.Lifestyle Quickstart Guide An overview of lifestyle, care-related gigs.Delivery Quickstart Guide The basics of delivering food, groceries, and packages.
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