daycare 03:55 PM 01-10-2013
TOm- should I be claiming the miles I drove for DC related activities or should I be logging the milage.
Because I use this vehicle for personal too, I am not too sure what is the right way to do it...
Thanks
Blackcat31 09:51 AM 01-11-2013
TomCopeland 10:20 AM 01-11-2013
Originally Posted by daycare:
TOm- should I be claiming the miles I drove for DC related activities or should I be logging the milage.
Because I use this vehicle for personal too, I am not too sure what is the right way to do it...
Thanks
I'm not sure what your question is. You can claim as business miles those trips you take that are primarily for your business. Certainly your trip is business. If the trip is 10 miles, you can claim $5.55 as a business deduction in 2012 for this trip (10 x $.555 standard mileage rate). I don't know what you mean by "logging the mileage."
CrackerJacks 03:33 PM 01-11-2013
I like to use the " Track my Mileage" by APG solutions app on my iPhone. It's free, super easy and at the end of the year I just email the doc to myself and print it out for my records.
Abigail 07:23 PM 01-12-2013
I've been reading through the blogs and do I need to record my odometer readings at the beginning and end of the year if I use the standard mileage and don't have any loan interest or vehicle property taxes on my vehicle?
I thought all I needed was to track the miles driven for business and take the total miles multipled by .555 for 2012 miles to get the amount.
TomCopeland 11:53 AM 01-14-2013
Originally Posted by Abigail:
I've been reading through the blogs and do I need to record my odometer readings at the beginning and end of the year if I use the standard mileage and don't have any loan interest or vehicle property taxes on my vehicle?
I thought all I needed was to track the miles driven for business and take the total miles multipled by .555 for 2012 miles to get the amount.
You do not have to keep odometer readings! Just keep a record of how many miles each trip is (use Mapquest, etc.). Many years ago there was a requirement to keep odometer readings, but everyone rebelled and Congress changed the rule to eliminate this requirement.
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Unregistered 06:25 AM 01-15-2013
You should probably get odometer readings if you are making loan payments. That way you can calculate your % of use to deduct the interest paid on your auto loan. Which you can deduct in addition to the standard mileage rate.
Abigail 06:32 PM 01-15-2013
Originally Posted by Unregistered:
You should probably get odometer readings if you are making loan payments. That way you can calculate your % of use to deduct the interest paid on your auto loan. Which you can deduct in addition to the standard mileage rate.
My car was paid for years ago, it is over a decade old and still running! LOL