How much do you know about the Standard Deduction Rate and the Actual Expense Method for Tax Deductions for Business use on Vehicles? What are the major differences and which is best for you during tax season? In this video, we are talking about the Standard deduction rate and the Actual Expense Methods for writing off your vehicle, which is best for you, and everything in between! Thank You GigTax for Verifying this information and making this video possible! GigTax: Hi 👋🏻 GigTax is powered by Truthful Taxes. Head on over to: www.Truthfultaxes.com Click “file my taxes now” Create an account and complete the registration, uploading all docs. Select ‘Joseph Mayo’ as tax preparer” Make sure you use code WYLD to Maximize your savings and get 60% off your Tax Preparation Services! The above link is temporary and the official website will be live soon! Joseph Mayo, Founder of GigTax: Email: jmayo@truthfultaxes.com IG: https://www.instagram.com/gig.tax/ TikTok: https://www.tiktok.com/@gig.tax IRS Standard Mileage Rates: https://www.irs.gov/tax-professionals/standard-mileage-rates Source: https://www.irs.gov/taxtopics/tc510 https://turbotax.intuit.com/tax-tips/self-employment-taxes/standard-mileage-vs-actual-expenses-getting-the-biggest-tax-deduction/L0wIEUYhh Follow Me On: Instagram: https://www.instagram.com/drivenwyld/ Twitter: https://twitter.com/DrivenWyld TikTok: https://www.tiktok.com/@drivenwyld Have a story you want to share? An Article you would like me to go over? Or something else entirely? Email me: drivenwyld@gmail.com Tips Appreciated 😜: Paypal: https://bit.ly/DWPayPal My P.O. Box: P.O. Box 10093 Pompano Beach FL 33061 Disclaimer: The content of this video does not contain and is never intended to be legal, business, financial, tax, or health advice of any kind, This video is for entertainment purposes only. It is advised that you conduct your own research and consult with qualified professionals before applying anything you find online. The goal of Driven Wyld is to Provide value and allow people to learn about platforms such as: -Doordash -Uber / UberEats -Grubhub -Instacart -Veho -#NoTipNoTrip -As well as many others To understand the gig economy on a much deeper level and to help people make the most amount of money in the least amount of time!