Mileage Or Actual Expenses ?

Philly Dude

SLSTech

Pretty simple math - which gives you the better bang for the $

My vehicles have been paid off so standard mileage will always come out better

If you have 5 or more vehicles (As I remember it from last year) you have to use Actual expense

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threaderman

I have less than 5 vehicles ,two actually,and I use mileage as my deduction ,which to date has bein the larger amount.And my accountant says to do it that way.

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BKFranks

My tax guy uses the mileage also. I drive a ton of miles and he still doesn't claim them all so it won't bring up a red flag to the IRS. I think I drove 35,000 last year and he only claimed 19,000. As long as I get some money back I'm cool with it.

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macatawacab

My accountant uses mileage like the others have said. I do claim all the business miles and you have to keep a log of some kind. If not the miles for each day at least a log or schedule of what job sites you went to each day. With the crappy economy in Michigan I spent more windshield time for the same amount of money. I claimed 55,000 miles last year and that was legit. So I don't know about a red flag for high mileage if your jobs really are spread all over God's creation. You burn up the gas and the vehicle so you are entitled to claiming the cost of business.

Grumpy

You really shouldn't be asking a bunch of contractors an accounting method. You should be asking your accountant, same as you shouldn't be asking an accountant how to build a home

I do mine as actual expenses since it is soooo much easier on the accounting. Some vehicles are owned and some I am still making payments.