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Daycare and Taxes All things related to Taxes and running a Daycare post here. Topics of tax exemptions, forms, filings, tax write offs, IRS etc.

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Old 09-06-2011, 05:07 PM
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awestbrook713 awestbrook713 is offline
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Default Mileage

What do I do if I didn't write down the odometer reading when I first started using my vehicle for business? do I absolutely have to have that or can I start with the odometer reading on my next business trip? Am I able to claim the miles traveled before I track the odometer reading?
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Old 09-06-2011, 06:22 PM
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I think you can estimate month to month going backwards.
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Old 09-06-2011, 07:52 PM
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Default mileage

You need to establish the odometer reading at the beginning and ending of each year. Since you don't have it for the beginning of the year, you'll need to estimate it. You can count miles as business before you started tracking the odometer reading.

Estimate your odometer reading by looking at recent car repair bills or oil changes. Or, go back to when you bought the car and determine the average number of miles per month you drove it since then. Use that average for the months this year.
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Old 09-07-2011, 03:48 AM
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Thanks guys!
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