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  #11  
Old 01-13-2009, 01:06 PM
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Yard.Barber Yard.Barber is offline
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Okay, I'm having a dumb moment here. Not the first time.

so basically you all are filling your trucks up and after that swiping your card again to fill up containers that hold your fuel so you have a seperate receipt?
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  #12  
Old 01-13-2009, 09:50 PM
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jimmyzlc jimmyzlc is offline
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Quote:
Originally Posted by Marvelous Gardens View Post
Yes you can write off your offroad fuel for your equiment and vehicle. I believe there is also some type of tax credit, be sure to have the number of gallons you hve purchased. Hope this helps, I would contact your tax professional for a more accurate answer.
OK, I know fuel is an expense. I just keep reciepts for all the gas I buy. But, I can get a tax credit for only the fuel purchased for the mowing equipment, which needs to be shown in gallon form. Is that correct?
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  #13  
Old 01-13-2009, 09:56 PM
ECS ECS is offline
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Quote:
Originally Posted by Yard.Barber View Post
Okay, I'm having a dumb moment here. Not the first time.

so basically you all are filling your trucks up and after that swiping your card again to fill up containers that hold your fuel so you have a seperate receipt?
For me that one is easy because my truck is diesel and mowers gas. Another way to do that would be to use two separate pumps, then both pumps will be listed on one reciept. I have filled up my truck from 1 pump, mowers from another pump and wife's JEEP from a a third pump. Paid for all three at once, all three pumps with the price and gallons for each pump and a total at the bottom.
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  #14  
Old 01-13-2009, 09:58 PM
ECS ECS is offline
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Originally Posted by jimmyzlc View Post
OK, I know fuel is an expense. I just keep reciepts for all the gas I buy. But, I can get a tax credit for only the fuel purchased for the mowing equipment, which needs to be shown in gallon form. Is that correct?
That is correct. I keep a spread sheet with all my expenses broken down and a column for the # of gallons purchased as off road gas and a column for the $ amount of the off road gas, totaling it up for the year.
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  #15  
Old 01-13-2009, 10:13 PM
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jimmyzlc jimmyzlc is offline
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Thanks everyone who replied, that's good to know and should not be to hard to seperate. I get most of my fuel with 2 pumps to an island and fill one with the truck and the other fills the mowers.
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  #16  
Old 01-13-2009, 10:13 PM
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Yard.Barber Yard.Barber is offline
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Quote:
Originally Posted by ECS View Post
For me that one is easy because my truck is diesel and mowers gas. Another way to do that would be to use two separate pumps, then both pumps will be listed on one reciept. I have filled up my truck from 1 pump, mowers from another pump and wife's JEEP from a a third pump. Paid for all three at once, all three pumps with the price and gallons for each pump and a total at the bottom.

that makes sense to me. thanks
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  #17  
Old 01-13-2009, 10:21 PM
ECS ECS is offline
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Your welcome.
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  #18  
Old 01-13-2009, 10:24 PM
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TJLANDS TJLANDS is offline
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You guys make this all to complicated.
Every penny spent on gas is deductible. 100%
Every gallon bought for use in equipment is eligible for an extra tax "Credit"
which you have to file for. Ask you accountant or google the forms.
You must keep a log.
Keeping separate receits would be nice but not necessary. Been there.
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  #19  
Old 01-15-2009, 11:01 PM
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Anybody know the tax form number?
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  #20  
Old 01-15-2009, 11:33 PM
lawnman_scott lawnman_scott is offline
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Quote:
Originally Posted by TJLANDS View Post
You guys make this all to complicated.
Every penny spent on gas is deductible. 100%
Every gallon bought for use in equipment is eligible for an extra tax "Credit"
which you have to file for. Ask you accountant or google the forms.
You must keep a log.
Keeping separate receits would be nice but not necessary. Been there.
The gas isnt deductable if you take the mileage credit.
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