Rideshare (Uber, Lyft, etc.) drivers actually have two options for deducting auto expenses attributed to driving passengers for hire. These methods include the standard mileage rate method (available starting in 2011), and the actual expense method, also known as the mileage vs. actual expense methods. Your total deduction and recordkeeping requirements differ depending on which…
The Mileage vs. Actual Expense Method for Car Expenses
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