Visit the Shaks

  • Shak In Style
  • Shakhammer
  • Love Shak, Baby
  • LoanShak
  • ShakYard
  • WorkShak
  • Shaktronics
  • Shak & Jill
  • Animal Shak
  • Shak & Jill


    Join Jill for savvy Real Estate discussion.
    visit the shak!

    Did you know?


  • The average income for home office households is $59,000, versus $45,000 for total households.
  • read all shaktoids!

    « Home Business Budgeting for the New Year | Main | State of the Union 2010: Job Creation a Key in the Coming Year »

    January 27, 2010
    Reader Question: Reporting Mileage on Your Tax Return

    I recently received this question from a reader:

    What form do you use to file your mileage usage?

    This is a good question. When you are filing for business expenses (such as driving your car for your home business) you actually keep track of your mileage and report it on your tax form as a business expense (for a sole proprietorship, it goes on Schedule C). There is a worksheet in your instruction booklet that helps you figure your mileage.

    YouTube Preview Image

    If you have mileage related to working for someone else for your job, you keep track of it and you put it on Form 2106, which includes all employee business expenses that you might pay throughout the year. However, it is important to note that these must be expenses that have not been reimbursed to you by your employer.

    For charity mileage, medical mileage, job hunting, educational and moving expenses, there are places you can deduct these on your form 1040, and some of them are deducted on Schedule A when you itemize. Before you deduct any mileage, though, you want to make sure that you have accurate records, in case you are flagged for an audit. You want to make sure that all mileage was only for the use you state. No personal mileage deductions. A tax professional can help you sort through everything if you have more questions, since I am not a tax professional.

    Reblog this post [with Zemanta]
    Technorati Tags: , , , , , ,

    Add to: del.icio.us  Digg  Face Book  stumbleupon  technorati
    TrackBack

    TrackBack URL for this entry:
    http://workshak.com/2010/01/reader-question-reporting-mileage-on-your-tax-return.html/trackback

    Post your comment