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Should I deduct my vehicle mileage using the standard IRS mileage rate, or should I deduct the actual vehicle expenses? The choice between using the standard IRS mileage rate and deducting actual vehicle expenses, including depreciation, depends on your specific situation. Here are some key points to consider: Standard Mileage Rate: 1 - Simplicity - The standard mileage rate is straightforward. For 2025, it's 70 cents per mile for business use. 2 - Record-Keeping - You only need to track your business miles driven. 3 - Restrictions - You must use the standard mileage rate in the first year the car is available for business use. After that, you can switch between methods. Actual Expenses: 1 - Potentially Higher Deductions - If your actual expenses (gas, oil, repairs, tires, insurance, registration fees, licenses, and depreciation) are high, this method might yield a larger deduction. 2 - Detailed Record-Keeping - You need to keep detailed records of all expenses related to the vehicle. 3 - Depreciation - You can include depreciation, but there are limits on how much you can deduct. Which is Better? Calculate Both: It's often beneficial to calculate your deduction both ways to see which method gives you a larger deduction. Consider Your Vehicle Costs: If you have high vehicle expenses, the actual expense method might be more advantageous. If your expenses are relatively low, the standard mileage rate might be simpler and just as effective.