This Sunday I drove my monthly commute from Brunswick, Ohio, to Dayton, Ohio. I have weddings and events in southern Ohio until the end of November. As I was driving and singing away with my Pandora, I was inspired to remind you all to write off your gas, miles or car!
People forget that all of the miles that they drive to and from weddings are tax deductible. You can write off gas on your taxes if you travel frequently for your employer and are not reimbursed, travel from a regular job to a second job, or travel frequently for a self-employed business. (Reference http://www.ehow.com/how_5082905_writeoff-gas-taxes.html
You have the option of either writing off the actual mileage (this is what you want to do if you are using your personal car) at 51 cents per mile for 2011 or writing off the entire price of all the gas you purchase for the tank (this option is better for a company owned car.)
I have a "company owned" vehicle and I pay for my gas using the company credit card. When I fill up the tank, I always print a receipt, and I write the end mileage and how many miles I got on that particular tank of gas on the back. I also track the following information in my PDA for each meeting that requires me to drive. You can also keep a simple notebook log or a journal in the car at all times to keep track of this information.
1) Start Mileage
2) End Mileage
3) Total Miles
4) Client Name / Reason for appointment
5) Appointment and Location
Be sure to double check with your CPA if you charge a delivery fee for your services and if these rules apply.
These links are great resources for how to write off mileage and gas.
http://www.ehow.com/how_5082905_writeoff-gas-taxes.html#ixzz1RHjsenGX
http://www.businesstaxrecovery.com/irs_mileage_allowance
http://www.howtoadvice.com/WriteOffAuto
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