I see what you mean then. I will just submit the receipts for the repairs, maintenance, and fuel receipts for my Suburban then. And …just submit a single fuel receipt for the week of the job then.
My business is still new and I only have a couple accounts but they are right accross the street from each other, so I don’t have far to drive and I don’t work that much/or make that much money; I still work full-time too.
I will be asking my tax preparer some questions too.
i don’t mean to bring this 2 year thread back to life but is it alright if lets say the one year you don’t have any repairs so you claim the gas by either mileage or by receipts of cost and then next year you have all these repairs and claim them instead.
You can convert from mileage to actual expenses once, but you cannot switch back and forth from year to year. Go to IRS.gov and search for Publication 463, Travel, Entertainment, Gift and Car Expenses[FONT=Helvetica-Black][SIZE=7][FONT=Helvetica-Black][SIZE=7] [LEFT][/SIZE][/FONT][/SIZE][/FONT][FONT=Helvetica-Bold][SIZE=1][FONT=Helvetica-Bold][SIZE=1] [/SIZE][/FONT][/SIZE][/FONT] [/LEFT][FONT=Helvetica-Black][SIZE=7][FONT=Helvetica-Black][SIZE=7][LEFT][SIZE=1][COLOR=#000000][/COLOR][/SIZE][/SIZE][/FONT][/SIZE][/FONT] [/LEFT]
I’ve read that a while ago (not the entire thing) but I never saw anywhere or anyone saying “No, you can only do it this way or that way.” Thank you for clearing that up for me.
letter up your van, then a trip to the store is advertising. make it a 100% work vehicle. then you just need the starting mileage every year, you can compare the mileage allowance to your real cost and decide to put the higher amount on your taxes.
I always just go with the real expenses because I have 2 Chevy astro vans that run a little over 22mpg, Gas is $4 a gallon here, add on a little maintenance and a few repairs…
If you are running employees do what the big companies do, reimburse for mileage at a lower rate then the mileage allowance and make money every time an employee does a job for you.
good idea to compensate for mileage.
anybody stick some sort of gps in their trailer to track miles
Also I was wondering if I were to buy a new vehicle for the business, would I be able to write off the purchase of the new vehicle?