After decreasing two years in a row, the rate by which taxpayers may compute their deductions for costs of using an automobile for business purposes will go up to 58.5 cents per mile for the 2022 tax ...

The surge in oil prices that caused gas prices to jump higher in 2021 is actually good news for taxpayers who claim a mileage deduction in 2022. That surge in prices at the gas pump during 2021 due to ...

The Internal Revenue Service has issued the 2022 rates used to calculate the deductible costs of using a vehicle for business. Beginning on Jan. 1, 2022, the standard mileage rates for the use of a ...