Keeping track on all my expenses

Save those receipts!! Milage, gas, dash cam, car mount, car maintenance, and phone bill!! With everything I had they just zero’d out my income so I don’t owe a thing!:grin:

I used mileage on turbo tax, but it still let me add things like car washes, cleaning supplies, meals, supplies for passengers( water and mints), car chargers and mounts, etc…

When it comes to deduct
Mileage or maintenance (miles is usually the best deduction/need to make sure you have some kind of log book

Then the other deduction includes what is considered business expenses
(Business cards, camera, phone insurance, car wash, seat covers everything that you need to keep making income)
Except for any thing like car parts etc which would fall back to mileage or maintenance)
But if you decorate can deduct
I was office manager for a liberty tax for about 10 years and I have about 10-15 clients I do their return every year
I’ve been doing this in the car when it is slow
I got one gal back $8400
And another young man $6500.
And the new standard deduction and additional child tax credit will be nice for alot of people this year

Gas is included as part of the standard mileage rate. If you claimed both, hopefully you don’t get audited. Same with maintenance, that is also included in the standard mileage rate

Things you CAN claim with mileage: portion of your cell phone bill used while doing Uber/lyft, car cleaning (washing/vacuum) as long as it wasn’t reimbursed by Uber aka cleaning fee, music apps that you pay for, food and drinks that are provided for pax

I use an app called Stride to track my mileage, it will tell you all the things you can actually claim as expenses with mileage as well as give you a breakdown at the end of the year. It’s very helpful

your meals will fall under a very specific set of rules. Be sure to look those up. I don’t claim any meals as it’s too complicated to mess with. But that’s just me.

Im letting my tax person handle it because taxes are not my area of expertise. I can claim meals with my regular job.

Car chargers and mounts too… for meals there are 2 categories… meals while working you can claim 50%, not that difficult just keep receipts from food you bought while driving… and meals for business meetings… we wouldn’t really use that one.

  1. you can’t claim both milage AND gas/maintenance
  2. if it zero’d out your income, that means you lost money, not necessarily something to be proud of.

Not really. If she zero’d out it means she has enough in deductions to offset her earnings, which is a good thing…except if she claimed both mileage and gas/maintenance…that’s a bad thing and hopefully she paid for some kind of audit protection with her tax professional

The milage deduction is based on the average of all car expenses over the life of the car. You are spending that money anyway. That’s why you can’t double dip and claim both.

Why can’t you claim maintenance in addition to either gas or milage???

You can claim the maintenance if you are only claiming gas, however if you are claiming mileage, those two thing are included in the standard mileage rate.

Definitely, especially if you used an app while driving. It logs all the miles for you. In the event of an audit and you are claiming gas/maintenance, you would need to provide receipts for EVERYTHING

Y’all are…:expressionless: Anyways…the point was to say to keep everything. I use stride and claimed everything they told me to.

Read the instructions for Schedule C and then take every deduction you’re eligible for. You cannot take mileage and maintenance… and mileage covers many items. Read the instructions!

Is there a way to claim milage and my car, that I just bought in April, itself? not the interest or taxes I’m paying tho, correct?

Glad I didnt go to them. We get 52 cents a mile deduction with about 200 miles a day, when I do work, it adds up.

The mileage deduction for 2017 is $0.53 per mile.
In 2018 it will be $0.545
Yes it does add up.