# Standard mileage or itemized tax?



## James Lee (Nov 10, 2015)

I am planning to drive select with my 2012 BMW 3-Series and was seeing which is better file tax as. I will be driving full time for now until my I settle back on my full time job which in a month. Can someone specifically list of things that I could use as tax deduction vs standard mileage.


----------



## UberTaxPro (Oct 3, 2014)

James Lee said:


> I am planning to drive select with my 2012 BMW 3-Series and was seeing which is better file tax as. I will be driving full time for now until my I settle back on my full time job which in a month. Can someone specifically list of things that I could use as tax deduction vs standard mileage.


It's all right here..... https://www.irs.gov/pub/irs-pdf/p463.pdf
check out page 16
just a hint.... standard mileage deduction is *almost* always better for Uber drivers.


----------



## RideshareTaxAdvisor (Nov 13, 2015)

If you want to use the standard mileage rate for a car you own, you *MUST* choose to use it in the FIRST YEAR the car is available for use in your business. Then in later years, you can choose to use either the standard mileage rate or actual expenses (itemize). My recommendation would be, if this is your first year, use the standard mileage but keep track of actual expenses so that at the end of the year you can compare what is more beneficial. Also, if you do itemization in the first year that your car is in service you cannot go back to using the standard mileage rate. Conversely if you use the standard mileage rate in your first year in later years you can flip back and forth depending what is going to give you the greater tax benefit.


----------

