Computes the tax deduction for business mileage.
Business miles — Financial input. Directly drives affordability, yield, or cost; small changes compound over time. Example: 0.1.
Business miles is required
standard mileage rate — Rate as a percentage. Determines how quickly interest or growth accrues; even 0.5% changes matter over time. Example: 0.1.
standard mileage rate is required
Computes the tax deduction for business mileage.
Formula
deductionAmount = businessMiles × standardMileageRate