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Save on business taxes with local transportation deductions
January 15th, 2025 | Business Tips, Financial Tips, Tax Tips
Did you know that some of the transportation costs you and your employees incur for your business might help you save on taxes? Here’s a simple breakdown to help you understand how local transportation deductions work. What counts as “local transportation”? Local transportation refers to travel near your main workplace that doesn’t involve being away long enough to require sleep or rest. Your “tax home” is the city or area where your business is based. This is different from long trips or business travel, which have separate tax rules. Commuting costs: What’s not deductible Here’s the bad news: the costs of commuting between your home and your regular work location aren’t deductible. That’s true even if you’re catching up on […]
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Save on business taxes with local transportation deductions
Did you know that some of the transportation costs you and your employees incur for your business might help you save on taxes? Here’s a simple breakdown to help you understand how local transportation deductions work. What counts as “local transportation”? Local transportation refers to travel near your main workplace that doesn’t involve being away long enough to require sleep or rest. Your “tax home” is the city or area where your business is based. This is different from long trips or business travel, which have separate tax rules. Commuting costs: What’s not deductible Here’s the bad news: the costs of commuting between your home and your regular work location aren’t deductible. That’s true even if you’re catching up on […]
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