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Gas receipts for tax purposes?

9K views 45 replies 14 participants last post by  grandview (2006) 
#1 ·
For tax purposes do the gas receipts need to show the amount of gallons.
 
#5 ·
For mower gas, you need to keep track of gallons for credit for tax on fuels (Form 4136). You can deduct the federal taxes on fuel.

Truck gas is deductible as long as your not using standard mileage.
 
#11 ·
So.....nobody is getting the credit for tax on fuels???

Your missing out on a lot of money!

Also....unless you drive your truck a LOT (mileage wise) your better off going with actual expenses.

I put between 3K and 4K miles on my truck a year. I incurred a whole lot more than $2K worth of expenses!
 
#13 ·
So.....nobody is getting the credit for tax on fuels???

Your missing out on a lot of money!

Also....unless you drive your truck a LOT (mileage wise) your better off going with actual expenses.

I put between 3K and 4K miles on my truck a year. I incurred a whole lot more than $2K worth of expenses!
I tried the offroad fuel tax credit and it wasn't that much in my case.

I drove about the same miles as you and didn't put anywhere near that into my truck. I did an oil change or two and put new tires on it. I came in under $500 plus gas for the year.
 
#15 ·
I pay to have all work done on my truck. Brakes, oil, maintenance. Had all fluids changed and flushed this past year. New brakes and rotors all around as well. Tires alone this year were $600. 7mpg doesn't get me far on a tank either.

The offroad credit is .173 per gallon! That's about $100 for a solo guy!
 
#16 ·
So.....nobody is getting the credit for tax on fuels???

Your missing out on a lot of money!

Also....unless you drive your truck a LOT (mileage wise) your better off going with actual expenses.

I put between 3K and 4K miles on my truck a year. I incurred a whole lot more than $2K worth of expenses!
I follow what my accountant tells me and that's turn in my work miles and leave equipment fuel under general expenses. the only thing I pull out seperately is equipment. all other expenses are one total.

by the way I put between 5k and 8k miles a season on my truck for work miles.
 
#18 ·
I've been 4136'ing since 1988 and home office'ing for over 8 years now probably.

I have heard the home office is often a high abuse area that they look into, but have never heard the credit for tax on fuel being a red flag item?

Your not using this fuel in a DOT approved vehicle on the road, so why pay tax on it?

We already save all our gas receipts. I always fill up mowers separately from the truck, so the receipt is 100% accurate. The truck gets filled on a separate pump. Truck receipt has truck mileage written on it, and mower receipt has mowers written on it.

I take the receipts and add them all up at tax time. Simple and easy.

As for the truck....as long as you have another car/truck for personal use, and just use your work truck for 100% business. It's so much easier that way.
 
#20 ·
Everyone should be using the off road deduction(credit).
If you dont you are just giving money away. A lot of it.

Also I have never had it where mileage beat out actual expenses,
so we use actual.
We also have 9 trucks, so maybe it is different for solo guys
What I do actual expenses on 4 company trucks
What I do have a Credit card for each truck no paper trail I always hate to mess with tons of paper
 
#21 ·
Everyone should be using the off road deduction(credit).
If you dont you are just giving money away. A lot of it.

Also I have never had it where mileage beat out actual expenses,
so we use actual.
We also have 9 trucks, so maybe it is different for solo guys
I am solo but like I said I just follow what my accountant says and suggested.

and that is to keep track of the work mileage on my truck. I turn that in at tax time. mower fuel is just mixed in with all my expenses for the season.

I used to save the receipts from the mowers but I don't any more. mowers are filled up with a diff card than my truck so I can track it that way if I need to.
 
#22 ·
I am solo but like I said I just follow what my accountant says and suggested.

and that is to keep track of the work mileage on my truck. I turn that in at tax time. mower fuel is just mixed in with all my expenses for the season.

I used to save the receipts from the mowers but I don't any more. mowers are filled up with a diff card than my truck so I can track it that way if I need to.
just one comment,
if your accountant does not file for off rd. credit,
get a new accountant
 
#23 ·
just one comment,
if your accountant does not file for off rd. credit,
get a new accountant
YES!

And keep receipts! It's not hard to do! The 5 minutes it takes to add them up at the end of the year is well worth the trouble!
 
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