What is the difference between business mileage and personal mileage?
An example of an AI chatbot conversation about business vs personal mileage for tax deductions.
What is the difference between business mileage and personal mileage?
Business mileage refers to the miles driven for work-related activities, while personal mileage is for personal use.
How can I track my business mileage effectively?
You can use mileage tracking apps, keep a logbook, or use your vehicle's odometer to track business trips.
Are there tax deductions for business mileage?
Yes, you can deduct business mileage on your taxes, which can significantly reduce your taxable income.
What records do I need to keep for business mileage deductions?
You should keep a detailed log of your trips, including dates, destinations, purpose, and mileage.
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