gas write offs

[cks dad]

I have a part time lawn maintenance business i spent a total of$3400.00 in gas this past year.How much of that do we get to write off.I have an accountant that does all of that for me was just kind of trying to get a idea.And i think we also get to write off about $0.58 per mile for miledge.Any help would be appreciated.Thank You

[DRM Ventures]

don't forget you can also deduct the approx. $.18 per gallon of federal tax for every gallon...you use in mowers...... there is a specific form for this.....

[ECS]

It was .505 cents per mile from 1/1/08 - 6/30/08 and .585 from 7/1/08 - 12/31/08. You need to keep mileage for work vs person separate and only the work related miles can be written off.

If I am not mistaken, the gas used for the equipment is a tax credit on the gas exise tax and the remainder of the gas cost for equipment then becomes a write off as an expense. I could be wrong, but I think that is the way it works because it is for off highway/road use, just like red dye diesel for farmers.

Sounds like $3400.00 in gas, part time also includes what you used for personal use. Doing lawns, snow, caretaking, full time, year round, using two vehichles, mine was only just over $3700.00. I do not have a tight route for any of the business either, as there is no such thing as a tight route here.

Here is an Excel sheet, broken down by month and also totals for the year. Just fill in the odometer reading daily, the amount of gallons purchased, the $ amount purchased, and the amount of personal miles used each day. This work book will do it all for you. There is also a section on each month at the bottom for repairs and maintenance done. It will also tell you the $ amount og gas per mile that it is costing you and your MPG. This is set up for 2 vehichles right now. It also calculates monthly & annually the mileage allowance for you. Fill this out daily, give to the accountant when they do your taxes and they will love you.

This excel workbook is for anyone to use if they wish. I made this 3 years ago and have been using it on a daily basis for 3 years. You will need to update this 7 days a week, 52 weeks a year, even if you have a day off to go to the beach.

[Frue]

If you use your mileage you cannot use your gas in your truck but you can use the gas in your mowers but you must keep accurate records.