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Simple English definitions for legal terms

standard mileage rate

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A quick definition of standard mileage rate:

Standard mileage rate is a way to save money on taxes when you use your car for business, medical, or charity purposes. It's like getting paid a certain amount of money for every mile you drive. You can either calculate the cost yourself or use the standard mileage rate set by the IRS. This makes it easier to claim a tax deduction without having to keep track of all your receipts. The rate changes depending on the reason for your travel, but it's a good way to save money on your taxes.

A more thorough explanation:

The standard mileage rate is a tax deduction offered by the IRS for individuals who travel for business, medical, or charitable purposes. It is a basic deduction per mile that an individual can claim on their tax return.

For example, if an individual travels 1,000 miles for business purposes and the standard mileage rate is 50 cents per mile, they can deduct $500 from their taxable income.

There are different standard mileage rates for different purposes. As of 2021, the rates are:

  • 56 cents per mile for business purposes
  • 16 cents per mile for medical purposes
  • 14 cents per mile for charitable purposes

It is important to note that an individual must report the number of miles they have traveled to the IRS in order to claim the deduction. They can either use the standard mileage rate or calculate their actual costs per mile, which can be challenging and requires receipts for all gas and auto upkeep.

Overall, the standard mileage rate is a helpful tax deduction for individuals who travel for business, medical, or charitable purposes.

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got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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