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Dec 10, 2014 · In the past, the IRS has said it calculates standard mileage rates based on an annual study of vehicle costs. Claiming the Standard Mileage Rate for Business. Small business owners and self-employed individuals use the standard mileage rate to calculate the tax-deductible costs for using a vehicle for business purposes.
In particular, self-employed individuals, many of whom report income on a Schedule C, were not even allowed to apply prior to April 10 th, giving banks only four days, including Easter weekend, to field requests. If additional funding is approved, self-employed individuals should plan ahead to make sure their applications are quickly processed.