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Slam the brakes on standard business mileage deduction

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in Small Business Tax,Small Business Tax Deduction Strategies

The IRS' standard mileage rate for business drivers in 2010 is just a half a buck for each business mile traveled. That’s a nickel a mile less than the rate allowed in 2009. Strategy: Switch to the “actual expense” method for this year. Even if you initially started using the standard mileage rate in January, you still can come out ahead if you change your record-keeping habits now.

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