Daycare.com Forum Force of Nature Disinfectant

Go Back   Daycare.com Forum > Daycare and Taxes

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.

Reply
 
Thread Tools Display Modes
  #1  
Old 02-01-2014, 07:50 AM
Unregistered
Guest
 
Posts: n/a
Unhappy Standard Mileage Deduction... Confused

I did not keep track of any of my mileage last year (first year in daycare, opened first of the year 2013), but I saved ALL of my receipts from my daycare related purchases(food, supplies, all other expenses related to day care). Can I use the receipts to now make a log of my mileage, based on the distance between my home and the location on the receipts?? They are all from local places in my own town that I shopped at regularly throughout the year.

If I can, do I record round-trip miles or just one way?

I used my vehicle and my husband's for these trips, but I have no idea what our starting odometer reading was for either vehicle. Do I need to know this if I am using standard mileage? I am not claiming any other expenses (tolls, parking fees, etc), just mileage.

I purchased Tom's book and have read the sections on vehicles carefully but I am still not sure about this part. Any help would be GREATLY appreciated!!!
Reply With Quote
  #2  
Old 02-01-2014, 02:35 PM
TomCopeland's Avatar
TomCopeland TomCopeland is offline
Business Author/Trainer
 
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 3,020
Default Mileage

Quote:
Originally Posted by Unregistered View Post
I did not keep track of any of my mileage last year (first year in daycare, opened first of the year 2013), but I saved ALL of my receipts from my daycare related purchases(food, supplies, all other expenses related to day care). Can I use the receipts to now make a log of my mileage, based on the distance between my home and the location on the receipts?? They are all from local places in my own town that I shopped at regularly throughout the year.

If I can, do I record round-trip miles or just one way?

I used my vehicle and my husband's for these trips, but I have no idea what our starting odometer reading was for either vehicle. Do I need to know this if I am using standard mileage? I am not claiming any other expenses (tolls, parking fees, etc), just mileage.

I purchased Tom's book and have read the sections on vehicles carefully but I am still not sure about this part. Any help would be GREATLY appreciated!!!
Yes, you can now reconstruct your mileage based on all of your records (receipts, cancelled checks, credit/debit card statements, calendar notations, etc). You need to know how far each trip was, but you don't need odometer readings.

You can claim as business trips those trips in which the primary purpose of the trip was business. If it's primarily for business, count the round trip miles. Never claim half a trip (if you did, that means you never came home!). It's either all the miles or none for each trip.

You would only need to know the starting and ending odometer readings when using the standard mileage rate to determine how much of your car loan interest you can deduct. If you don't have car loan interest, forget about this. If you do, do you best to estimate the total miles driven.

Don’t miss my February 4th webinar “Tax Changes for 2013: How to Avoid Mistakes When Filling Out Your 2013 Tax Forms.” It starts at 9pm Eastern Time and is sponsored by Daycare.com. Register here:http://events.r20.constantcontact.co...&llr=yatrx4cab
__________________
http://www.tomcopelandblog.com
Reply With Quote
  #3  
Old 02-01-2014, 02:52 PM
Unregistered
Guest
 
Posts: n/a
Default

Thank you so much Tom, this completely clears everything up. This was the last thing I needed to finish before filing, so I cannot thank you enough for responding today.

Also, thank you for all of the incredibly helpful information in your book! I have ALWAYS done my own taxes but was completely in the dark with daycare taxes. Your book is a lifesaver!
Reply With Quote
Reply

Tags
None

Thread Tools
Display Modes

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Tax Write Off List, Can't Find daycare Daycare and Taxes 29 06-06-2020 05:56 AM
Tax Question Re: Standard Meal Deduction AcornMama Daycare and Taxes 7 10-07-2013 05:05 PM
Food Program Income And Standard Deduction EAP Daycare and Taxes 10 03-11-2013 03:23 PM
Standard Meal Deduction and Turbo Tax rbmom Daycare and Taxes 5 03-11-2013 10:04 AM
Meal Counts, Standard Deduction, And My Own Child SilverSabre25 Daycare and Taxes 7 01-03-2011 10:08 AM


All times are GMT -7. The time now is 03:15 AM.



Daycare.com         Find A Daycare         List Your Daycare         Toys & Products                 About Us

Daycare.com
Please read our Disclaimer before continuing.

Topics pertain mainly to the following States:

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming