Commuting Expenses
Categories: Company Valuation
Commuting expense is the cost a taxpayer incurs to get back and forth to work (yes, that commuting), whether using their own car or public transportation.
Why would you even track this cost? Rhymes with shmaxes…yeah. Commuting expenses are often tax-deductible. They’re usually tagged as being worth 50 cents, and change per mile when you leave town on a business trip. But commuting back and forth to work is usually not covered as a structured commuting expense you can fully deduct.