car mileage and taxes
#1
Racer
Thread Starter
Join Date: Aug 2006
Location: PA
Age: 41
Posts: 368
Likes: 0
Received 0 Likes
on
0 Posts
car mileage and taxes
hey,
i was on the AC expressway yesterday and during the long drive, my friend and i were having a conversation and the topic eventually went to being about work and cars. and when i told him that i drive a lot of miles during the work week for work because my commute is pretty far but he told me that i can use the miles i accumulate while going to work and deduct it from my taxes. he said something about $0.40 per mile but i dont understand the concept.
can anyone tell me if this is true and how i would go about doing this?
i was on the AC expressway yesterday and during the long drive, my friend and i were having a conversation and the topic eventually went to being about work and cars. and when i told him that i drive a lot of miles during the work week for work because my commute is pretty far but he told me that i can use the miles i accumulate while going to work and deduct it from my taxes. he said something about $0.40 per mile but i dont understand the concept.
can anyone tell me if this is true and how i would go about doing this?
#2
Team Owner
You can not deduct your commute to work.
#4
Make MyTL Great Again
Sounds like your friend overs the government some back taxes. Commuting doesn't count. If you actaully use your car for work: business trips, salesman using you own car, or driving between offices all day, then that is different.
#5
I saw my accountant yesterday and asked the same question. He told me that commute to work, no matter how far it is, is not tax-deductible (parking isn't deductible either). The only way you can deduct it from your taxes is when you have multiple office locations and you have to commute between offices, clients, etc. during work hours.
And it's 44.5 cents per mile.
And it's 44.5 cents per mile.
#6
Senior Moderator
iTrader: (5)
Originally Posted by eve
I saw my accountant yesterday and asked the same question. He told me that commute to work, no matter how far it is, is not tax-deductible (parking isn't deductible either). The only way you can deduct it from your taxes is when you have multiple office locations and you have to commute between offices, clients, etc. during work hours.
And it's 44.5 cents per mile.
And it's 44.5 cents per mile.
But be careful... b/c if you get reimbursed by your company for that trip including the mileage... you cannot deduct it from your taxes. Personally when I did that I had my company reimburse me b/c I would get every penny back verses deducting it from your taxes which really doesn't do much when you're talking about that little...
Trending Topics
#9
Team Owner
iTrader: (4)
Originally Posted by GIBSON6594
Effective 1/1/07 the IRS mileage rate is 48.5 cents per mile.
You cannot deduct your commute to work. However you may deduct your commute between jobs.
#10
-S namyaC-
Join Date: Sep 2003
Location: TN
Age: 39
Posts: 4,099
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Beelzebub
Unless of course you are a consultant, then I think it is.
I would know
Don't forget Section 179 for vehicles over 6000lbs GVWR!
Thread
Thread Starter
Forum
Replies
Last Post
Zonian22
Member Cars for Sale
3
11-14-2015 01:20 PM