Taxpayers using optional standard mileage rates in computing the deductible costs of operating an automobile for business, charitable, medical or moving expense purposes should be aware of an updated set of rules. The updated rules reflect changes to certain deductible expenses resulting from the Tax Cuts and Jobs Act (TCJA).
7 Smart Ways to Separate Business and Personal Expenses
Do You Avoid Separating Business and Personal Expenses? You’re in good – or should we say, bad – company. Over half of American business owners use either their personal checking account or credit card for business purposes according to a …
