Are you receiving all of your tax deductions?  Don’t forget that you are allowed to take a deduction for the miles that you drive your personal vehicle for business purposes.

For 2009, the standard mileage rate for the cost of operating your car for business use is 55 cents per mile.

The rate for January 1, 2008 through June 30, 2008 was 50.5 cents per mile, and the rate for July 1, 2008 through December 31, 2008 was 58.5 cents per mile.

If your business operates as a separate legal entity, such as a corporation, partnership, or LLC, then the easiest way to take the deduction is to simply write yourself a check for the dollar amount of the deductible mileage.

If you are a sole proprietor, then deduct the mileage on your Schedule C and Form 4562.