If you receive mileage reimbursements from your employer or your corporation, you may face an unexpected tax result when you sell or trade your vehicle. Many employees assume that mileage reimbursements end the tax story. That assumption often leads taxpayers to miss a valuable deduction, or to get blindsided by a taxable gain. When your employer reimburses you at the IRS standard mileage rate under an accountable plan, the tax law treats your personal vehicle as a business v

Commuting mileage. It’s personal. It’s not deductible. However, with knowledge, it’s avoidable. Let’s eliminate commuting and make those...