No Mileage Log, No Deduction!!

August 18th, 2017 at 5:12 PM

18 Sep No Mileage Log, No Deduction!!

Posted at 21:12h Business Deductions by MF

Many clients ask me ” do I have to keep a mileage log or some form of documentation to claim my auto or truck expenses”–My response and the tax courts response is always a resounding YES!!

The Tax Court has this to say about the auto deduction:

The tax Court then continues to outline the necessary components to deduct the standard mileage rate method, which I will not discuss here.

There are a number of planning tips to reduce this burdensome record keeping and documentation requirement that I discuss with clients.

However, rest assured–No Mileage Log, No Deduction!

Are you overpaying your taxes?
Let's Talk
{{admin_html}}