Thread: RWF, Inc.
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Old 09-13-2009, 12:40 PM
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Speaking of off road fuel.......

For those that are not aware of this, if you purchase ON road fuel (and even gasoline), and you use it for OFF road purposes (skid steer, tractor, paver saw, lawn mower, back pack blower, dozer, etc) you can deduct the cost of the ON road taxes from your FEDERAL tax return.

When you buy on road diesel you're paying highway taxes. But if you're not using it on a road or a highway - then you're not obligated to be taxed for such use. Therefore the IRS has a form (I don't have the form number available) where you enter in the total gallons of fuel and or gasoline purchased as ON road, yet used for OFF road purposes. Multiply it by some figure that the IRS uses towards highway taxes, and that's whats deducted from your tax liability. Now if you purchase OFF road fuel - then this can not be deducted from your taxes, as it was sold as OFF road, and there were no highway taxes included in the purchase.

You MUST keep accurate records of ON road fuel/gas that was purchased as ON road fuel/gas yet used for OFF road. I have a pretty slick spread sheet that I created on XL that automatically calculates and totals total gallons of diesel fuel and gasoline used for each truck, for fuel *bought as* off road, and for fuel / gas *bought as* on road, yet used for OFF road. On the Off Road Use tax form, you sign your life away stating that you have maintained accurate records and that the numbers you're providing are 100% true.

Just thought I'd mention this for those that don't know.

I know, i know, in a matter of days at the "premier hardscape" forum some nerd will bring this topic to light as if they are saving the world!!!!

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