IRS Medical Mileage on the Medical Expense Deduction. Much like the mileage deduction, you can use two methods to calculate car-related expenses for this deduction. The actual expense method lets you include out-of-pocket expenses like gas and oil.
Disregarded Entity Definition - What is a Disregarded Entity? What is a disregarded entity? A disregarded entity is a business entity which is considered to be an undivided part of the owner of the entity for federal tax purposes. That is, the entity is disregarded as an entity separate from the owner.
A single-member LLC (SMLLC) that is treated as a disregarded entity for federal income tax purposes will be treated as a disregarded entity for New York tax purposes. If the LLC is disregarded and the single member is an individual, the LLC will be treated as a sole proprietorship for New York tax purposes. If the LLC is disregarded and the single member is a corporation, including an S corporation, the LLC will be considered a division of the corporation for New York tax purposes. If the LLC is disregarded and the single member is a partnership, the LLC will be considered a division of the partnership.