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Tax Deductions

Discussion in 'Business Operations' started by Expert Lawns, Aug 19, 2003.

  1. Expert Lawns

    Expert Lawns LawnSite Silver Member
    Messages: 2,660

    How do you guys keep track of your mileage and gas? My accountant told me I can't use my credit card receipts for my gas write offs. Do I have to go inside and pay everytime I gas up? What a PITA. Also, do you just keep track of your mileage by writing it down each week?
  2. Lombardi

    Lombardi LawnSite Senior Member
    Messages: 538

    Are you sure the accountant didn't say credit card "statement" instead of "receipts"? A receipt is a receipt whether it is cash or credit. Do you use your truck strictly for business? If so, you only have to record the mileage at the first and last of your fiscal year. If you are in this part time then you will have to keep a daily log for business mileage. Also, at the end of the year you can deduct either the mileage allowance or the fuel/maintenance expense, which ever is greater.
  3. Moguy

    Moguy LawnSite Member
    Messages: 238

    Why not apply for a gas card? Most gas companies offer them and even can send you monthly reports on amounts and mileage.

    DUSTYCEDAR LawnSite Fanatic
    from PA
    Messages: 5,134

    i get a recipt for all gas at the pump then wright on them which truck it is 4 or if it is mowers -equip.
  5. promower

    promower LawnSite Bronze Member
    Messages: 1,233

    Set up an account with your gas station you use most. This made things a little easier for me, just a thought
  6. Grasshog

    Grasshog LawnSite Senior Member
    Messages: 270

    I use credit cards receipt for my records. Works great.
    American Express is a great one for this.
  7. wriken

    wriken LawnSite Silver Member
    Messages: 2,154

    thats what I do, either put 02, or 92 for year of truck. I just applied for a company credit card a few days ago, see what happens.
  8. Darryl G

    Darryl G Inactive
    Messages: 9,500

    Same here. Receipts and write either 85 chevy, 2003 chevy or mower/blower gas. I enter all my expenses into Quick Books from my credit card statement but keep the receipts on file.

    My trucks are full time business vehicles so I don't track my mileage except for annually like Lombardi said. If it's mixed business and personal use I believe you have to keep a mileage log.
  9. jbell113

    jbell113 LawnSite Senior Member
    Messages: 654

    What if you have signs on your vehicle and you do this part time can u write off all your mileage as advertisement
  10. precisioncut

    precisioncut LawnSite Senior Member
    Messages: 653

    It is a PITA but my truck I use for business and personal. I right down all the miles before and after and a use deemed business. If you use your truck for more personal use than business, keep track of your business miles, and if more business than personal, keep track of your personal miles. I keep all reciepts for all gas. Keep track in Quickbooks and print out when they need them.

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