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Crystalynn Shelton 4 months ago.
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This question was submitted in response to 2017 Mileage Rate & When to Use Standard Rate vs. Actual Car Expenses
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Hi Monte, congratulations on landing the Uber gig! When it comes to deciding whether you should go with the standard mileage deduction vs. actual vehicle expenses, you really should run both calculations and whichever provides you with the highest tax deduction, go with that one. I have provided links below to a couple articles that should help you do the necessary calculations:
When To Use Standard Rate vs. Actual Car Expenses:https://fitsmallbusiness.com/standard-mileage-rate-deduction/
Car Depreciation: How To Calculate Your Deduction:https://fitsmallbusiness.com/car-depreciation-deduction/Best,
Crystalynn Shelton
@CrystalynnPens
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