The Cents-Per-Mile Rate for Business Miles Decreases Again for 2021
The optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-and-one-half cents, to 56 cents per mile this year. This is the second year in a row that the cents-per-mile rate has decreased. Because of this, your deduction for vehicle-related expenses for 2021 may be lower […]
