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Slam the tax brakes on standard mileage rate

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in Centerpiece,Small Business Tax,Small Business Tax Deduction Strategies

The IRS recently announced an increase in the standard mileage rate for the second half of 2011. So taxpayers might discard all the additional records required to deduct actual driving expenses for a new vehicle and go with the IRS-approved shortcut. But don’t assume the standard rate method beats the actual expense method.

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