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Did you know that you are able to take a deduction for mileage traveled?  For 2019, individuals are able to take mileage for the following: 

Business owner

If you are a small business owner and travel for your business, you may be able to take this as a deduction.  This includes miles traveled for meetings, business errands, bank runs, and other bona fide trips. Keep in mind, you must be a business owner.  In addition, this does not include mileage traveled to and from back to your office. For the 2019 tax year, the standard mileage rate is 58 cents per business mile.

Medical mileage

If you travel to doctors, hospitals and/or other medical facilities, you may be able to take the mileage deduction on your tax return.  For the tax year 2019, you are able to take a deduction 20 cents per mile for medical. Keep in mind, this amount is available for not only for miles you drove on your behalf but your dependents as well.  Also, note that you are required to itemize your deductions to take advantage of this expense. 

Charitable 

Are you someone who frequently volunteers your time?  Do you travel a great deal to organizations to assist? If so, you may be able to take a deduction for the mileage traveled.  For the tax year 2019, you are able to take a deduction for 14 cents per mile for charitable miles driven. Again, similar to medical mileage, you will are required to itemize to take advantage.

Lastly, please note, you have the option to take the standard mileage rate or actual expenses.  Do your research and deduct the option that best works for you!

Have questions? Check out Washington CPA Services for more!

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