What mileage can I claim as a business expense for my Uber or Lyft driving? FAQs for businesses that use third-party network transaction platforms (like Venmo or PayPal) Are payments or reimbursements from friends and family included on a PayPal or Venmo 1099-K?
Claiming for business mileage is a simple process. It’s important to ensure that business mileage claims are accurate and compliant. Whether you claim back as a sole trader, director, or an employee, you should keep the following records: Date and location of each business trip, including sta...
Greene-Lewis says other changes to tax credits include that self-employed filers can deduct 2024 business travel at a mileage rate of 67 cents per mile driven, a 1 1/2-cent increase from 2023, and a new way to claim the electric vehicle tax credit (you can claim up to $7,500 at th...
Employees don’t have to pay taxes on mileage reimbursements with an accountable plan. Mileage reimbursement benefits Mileage reimbursements benefit both employers and employees. Check out the advantages for each below. Employer advantages: Increased employee satisfaction Can receive business mileage deduction...
state and local taxes home mortgage interest payments charitable donations losses from natural disastersor theft Unfortunately, you have topick between the Standard Deduction and itemized deductions– you can’t claim both. But you can pick whichever one is higher and saves you the ...
When you’re looking to do your taxes, you generally have two options: head for the DIY route or hand all of your information over to a CPA or other tax professional. Or, you can opt for an alternative approach with Taxfyle. When you use DIY software, you are mostly on your own....
One of the most common deductions that employees can claim on their taxes is for business expenses. These expenses are incurred when an employee spends money on items or services directly related to their job. By deducting these expenses, employees can lower their taxable income and potentially re...
Small Business Tax Planning: 14 Ways To Save on Taxes in 2025 Article • 8Min Read Year-End Compliance Checklist Webinar • 45 mins. Benchmark Your Business Guide • 1Min Read 2025 HR Compliance Calendar: Full Downloadable Guides
To claim a tax-deductible donation, you must itemize on your taxes. The amount of charitable donations you can deduct may range from 20% to 60% of your AGI. What is a charitable donation? A charitable donation is a gift of money or goods to a tax-exempt organization that can reduce yo...
United Airlines’ elite status program is called MileagePlus Premier, and it can be rewarding not just for United flyers but also for those who travel on Star Alliance partner airlines. We'll discuss the perks that come with each of the four United status levels, which v...