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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 12-09-2012, 06:10 PM
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Default Mileage

This isn't daycare related, but thought I would see if anyone knows. DH uses his vehicle for work and they reimburse mileage, but they only give 30 cents a mile. Can he use the rest on taxes since the mileage rate is like 55 cents?
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Old 12-10-2012, 10:09 AM
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I'm pretty sure it is either or I.e. he either takes the 30 cents from his company OR he takes the 55 cent deduction but can't do both or take parts of both I.e. 30 cents from the company and 25 cents deduction.
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Old 12-11-2012, 02:18 PM
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Quote:
Originally Posted by mema View Post
This isn't daycare related, but thought I would see if anyone knows. DH uses his vehicle for work and they reimburse mileage, but they only give 30 cents a mile. Can he use the rest on taxes since the mileage rate is like 55 cents?
Employees who are reimbursed less than the federal standard mileage rate ($.555 for 2012) can claim the difference as an unreimbursed employee expense on their personal itemized tax return. Claim it under Miscellaneous expenses. So the husband can claim 25.5 cents per mile as an itemized expense. However, his misc expenses must exceed 2% of his adjusted gross income before he will get to deduct this.
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