Frank Ellis has published an article on the IRS mileage rate tax deduction, which applies to distance traveled in vehicles for business, moving, medical, or charity purposes.

Traverse City, MI -- (SBWire) -- 09/09/2014 --Tax specialist Frank Ellis reveals important details on the IRS mileage rate tax deduction in a new Examiner.com article. Providing information on vehicle tax deductions people often overlook during tax season, the author has now introduced a deduction self-employed taxpayers, volunteers, and others can claim.

Mileage can be claimed as a deduction if one uses their vehicle for business or moving, medical, or charity purposes. Frank Ellis explains the need to itemize deductions. Details on calculating a mileage deduction are then presented in the article.

Calculating the current mileage rate is a simple formula. The total miles driven is multiplied by a rate set by the IRS; different rates are set for different purposes, so it’s important to be informed on the latest tax policies. Actual rates have varied over the past couple of years, the article explains.

For example, the rate was increased just slightly in 2013, but just enough to offset rising fuel costs for some. Mileage rates for specific purposes are posted in the article and reflect the IRS’s 2013 numbers. Ellis reveals all are calculated in the same way. He also stresses it’s important to keep records when using vehicles for business purposes, particularly if one is audited by the Internal Revenue Service.

In addition, the author briefly discusses TurboTax software. Credits and deductions are provided based on answers to questions and the software even helps taxpayers claim deductions for mileage. The IRS mileage rate deduction is also explained in an embedded video slideshow, which walks viewers through various bullet points and how to file for the deduction on the appropriate tax form. Step by step narration is provided regarding forms and TurboTax.

To learn more about the IRS mileage rate tax deduction, current rates, and how to calculate it, go to http://www.examiner.com/article/irs-mileage-rate-tax-deduction-for-2012-2013

About Frank Ellis
Frank Ellis is a Traverse City Tax Preparation Planner and published author. He has written tax and finance related articles for eight years and has published over 800 articles on the Internet.

CONTACT INFORMATION:

Frank Ellis
Easy Income Tax Filing Online
945 East 8th Street Suite A
Traverse City, Michigan 49686
Website: www.easyincometaxfilingonline.com