Frequently Asked Tax Questions And Answers
Keyword: Standard Mileage Rate
12.7 Small Business/Self-Employed/Other Business: Income & Expenses
Where can I find the per diem rates for foreign countries?
Per diem rates on the Internet. You will find links to per diem rate at. Click on "Per Diem Rates" for links to:
- CONUS per diem rates
- Per diem rates for areas outside the continental United States (OCONUS), such as Alaska, Hawaii, Puerto Rico, and U.S. possessions and
- Foreign per diem rates
If you lease a vehicle, can you deduct the cost of the lease payments
plus the standard mileage rate?
No, if you lease a car you use in business, you may use either the standard mileage rate or claim actual expenses, which would include lease payments. You cannot use both the standard mileage rate and the lease payments.
References:
- Publication 463, Travel, Entertainment, Gift, and Car Expenses
- Tax Topic 510, Business Use of Car