Tips for Income Tax Mileage Deductions. When you use a vehicle for your business, the Internal Revenue Service allows you to write off a certain amount of money per mile as an expense -- 55.5 ...

How to Pick a Used Car The age-old adage is that the 100,000-mile mark was indicative of a car past its prime. But despite their complexities, modern vehicles are even more reliable, thanks to a ...

How do you determine if a car is too old to buy? Here's what a study says about vehicle longevity and how to calculate a ...

The IRS recommends keeping mileage and vehicle-related documentation for at least three years in case of an audit. This includes your logbook, receipts, and Form 2106.

Keep a log book in your car and note the miles driven each day. Logs created after-the-fact with estimated miles driven could be disallowed during an audit. Make thorough entries ...

Both mileage calculation methods require that you keep a log to track the vehicle mileage used for business. It’s important that the log is kept day-to-day and not reconstructed, or you might ...

There's a risk involved when buying any used car, Consumer Reports says. But if you have to compromise, does age or mileage matter more when buying a used car?