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  #21  
Old 01-16-2009, 08:57 AM
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TJLANDS TJLANDS is offline
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Quote:
Originally Posted by lawnman_scott View Post
The gas isnt deductable if you take the mileage credit.
Yes, that is correct. I never really understood why people would choose
the mileage deduction instead of actual expenses, but maybe it is easier for some.
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  #22  
Old 01-16-2009, 10:09 AM
ECS ECS is offline
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Probably because sometimes the mileage allowance = more than actual expenses do.
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  #23  
Old 01-17-2009, 02:54 PM
lawnman_scott lawnman_scott is offline
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Quote:
Originally Posted by TJLANDS View Post
Yes, that is correct. I never really understood why people would choose
the mileage deduction instead of actual expenses, but maybe it is easier for some.
because its a better diduction sometimes.
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  #24  
Old 01-19-2009, 12:51 AM
TMlawncare TMlawncare is offline
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We have our tax person figure the vehicle expenses both ways, mileage and expensed. We don't put on that many miles per year so most vehicle are expense while usually one is figured with mileage.
As far as seperate receipts at the pump, it not necessary. Just make a notation at the top of the ticket showing how many gallon truck and how many gallons for equipment. Its really that easy. At the end of the year add up all of your equipment gallons and submit it to your accountant. It usually good for .35cents per gallon used. Thats a nice little write-off.
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  #25  
Old 01-23-2009, 10:33 PM
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jimmyzlc jimmyzlc is offline
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Ok, found it. Tax form 4136.
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