Tax question

Discussion in 'Business Operations' started by jimmyzlc, Jan 12, 2009.

  1. TJLANDS

    TJLANDS LawnSite Bronze Member
    Posts: 1,669

    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.
     
  2. ECS

    ECS LawnSite Bronze Member
    Posts: 1,732

    Probably because sometimes the mileage allowance = more than actual expenses do.
     
  3. lawnman_scott

    lawnman_scott LawnSite Fanatic
    Posts: 7,547

    because its a better diduction sometimes.
     
  4. TMlawncare

    TMlawncare LawnSite Bronze Member
    Posts: 1,197

    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.
     
  5. jimmyzlc

    jimmyzlc LawnSite Senior Member
    Posts: 376

    Ok, found it. Tax form 4136.
     

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