#selfemployedtips

[jrickssfinancialservices]

Using Your Vehicle for Business? Here Is How to Maximize Your Deduction

If you drive for business purposes — client meetings, property showings, vendor pickups, or site visits — you can deduct those miles. But you need to choose the right method and keep proper records. Two options: 🚗 Standard Mileage Rate: • The IRS sets a per-mile rate each year • Multiply your business miles by the rate • Simpler tracking but may yield a smaller deduction for expensive vehicles 🚗 Actual Expense Method: • Deduct the business-use percentage of all vehicle costs • Includes gas, insurance, repairs, registration, depreciation, and lease payments • Requires detailed record keeping ⚠️ Critical rule: You must track your mileage consistently. Use an app or a logbook. Record the date, destination, business purpose, and miles driven for every trip. Without documentation, the IRS can disallow your entire vehicle deduction. Let us help you choose the method that saves you the most. Schnoldine Lynn Joseph — Tax Accountant, EA, IRS Enrolled Agent, Realtor John Clerge — Paralegal, Realtor, Insurance Agent, Notary Public, Financial Restoration Specialist 📞 [phone] | [phone] 🌐 book.jrickssfinancialservices.com

[adjustingto6figures-blog]

Becoming Self Employed: 5 Financial Steps to Consider

Here are some important and specific financial steps that you can take to prepare yourself financially in becoming self employed.

Paying for your own equipment, supplies, taxes, and other expenses may seem burdensome, but there are specific financial steps you can take to prepare yourself to becoming self employed.