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Ok-disaster2022 t1_itdxyxs wrote

Nah, us IRS standard car reimbursement numbers, unless you have a super expensive car, you have maintenance as well as depreciation and taxes to pay on a car. The last I looked like a decade ago it was roughly 54 cents a mile. If whatever you're doing with your car isn't covering that cost, you're losing money.

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Pt5PastLight t1_itfc6l6 wrote

Well of course that’s still 54 cents times your tax rate percentage. For most of these people the actual money back is going to be about 10 cents per mile. If you’re being taxed 20 cents per dollar than a one dollar deduction can only save you the 20 cents back.

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