Writing off work miles

[Greystoke]

I recently put signs on my pickup, which is also the only rig I own, and I carry all of my climbing gear, chainsaws, etc in it to jobs. My question is: Now that I have signs on my pickup, can I write off all miles(personal and business), or just business miles? Thanks

 

[treemandan]

I don't think you need signs on the thing to write it off and you should get 100 percent on it.

 

[ASD]

Call a tax guy in your state as the laws are all different

In CA. You can only write off bis. mi. and you must have a vary detailed log

 

[John464]

I don't think you need signs on the thing to write it off and you should get 100 percent on it.

not true. it is his only vehicle. your accountant will claim it as personal vehicle as well. you can do a 20% personal 80% work, but not 100% work vehicle if its sole vehicle.

Buy another vehicle and you can write 100% off on the truck expense. It is impossible to work 100% of the time.

 

[treemandan]

not true. it is his only vehicle. your accountant will claim it as personal vehicle as well. you can do a 20% personal 80% work, but not 100% work vehicle if its sole vehicle.

Buy another vehicle and you can write 100% off on the truck expense. It is impossible to work 100% of the time.

Yes it is true you should get 100 percent for it. I guess you have to take that with a grain of salt and find the right accountant. I , personally, have personal vehicles and I claim some of that. So you got a truck, it has letters, its a work truck and that is all.

I met one or two of those accountants who do the sort of thing you mention, I didn't really like em all that much.

 

[ATH]

While State laws may vary how they view the question for state taxes, there is only one IRS who collects federal taxes, and they state clearly (here: http://www.irs.gov/pub/irs-pdf/p463.pdf (page 15)):
Advertising display on car. Putting display materials that advertises you business on your car does not change the use of your car from personal use to business use. If you use this car for commuting or other personal uses, you still cannot deduct your expenses for those uses.

PS: it doesn't matter how many vehicles you have, it you drive to visit grandma in it or go to buy groceries, it is personal use. If you use it to conduct work, it is business use. The IRS frowns upon claims to the contrary.

 

[John464]

Yes it is true you should get 100 percent for it. I guess you have to take that with a grain of salt and find the right accountant. I , personally, have personal vehicles and I claim some of that. So you got a truck, it has letters, its a work truck and that is all.

I met one or two of those accountants who do the sort of thing you mention, I didn't really like em all that much.

then you just admitted to tax fraud on the internet. if in fact you did write 100% off on your only vehicle

 

[dingeryote]

Vehicles can be "Dual use", so you can claim business miles from seperate trips to see shamoo and such.

Just keep a log for when the IRS geeks show up to sweat your accountant, and let your accountant see the log when ya have him deduct the miles.

Get a good accountant that understands Black, white, Grey, and the shades of "Grey" with a good track record amoung local small businesses and Farms.

Fuel and 52 cents a mile adds up quick!

Stay safe!
Dingeryote

 

[John464]

While State laws may vary how they view the question for state taxes, there is only one IRS who collects federal taxes, and they state clearly (here: http://www.irs.gov/pub/irs-pdf/p463.pdf (page 15)):
Advertising display on car. Putting display materials that advertises you business on your car does not change the use of your car from personal use to business use. If you use this car for commuting or other personal uses, you still cannot deduct your expenses for those uses.

PS: it doesn't matter how many vehicles you have, it you drive to visit grandma in it or go to buy groceries, it is personal use. If you use it to conduct work, it is business use. The IRS frowns upon claims to the contrary.

correct. and you can not claim that as the original poster is trying to do. claiming as a 100% writeoff. The IRS sees it as your only vehicle and immediately red flags you knowing that cant possibly work 100% of the time. The right thing to do is claim a percentage to work and a percentage to personal.

If you buy another vehicle you can then your current truck as 100% dedicated to work usage only

 

[ATH]

Get a good accountant that understands Black, white, ...................

......Fuel and 52 cents a mile adds up quick!

In black and white (on page 15 referenced above):
If you use the standard mileage rate for a year, you cannot deduct your actual car expenses for that year. You cannot deduct depreciation, lease payments, maintenance and repairs, gasoline (including gasoline taxes), oil, insurance, or vehicle registration fees... (bold added)

 

[treemandan]

then you just admitted to tax fraud on the internet. if in fact you did write 100% off on your only vehicle

No, no I didn't. I admiited I claim 100 percent of a work truck and some of another vehicle and also I didn't like accountants telling me BS. And that is all I said.

 

[treemandan]

In black and white (on page 15 referenced above):
If you use the standard mileage rate for a year, you cannot deduct your actual car expenses for that year. You cannot deduct depreciation, lease payments, maintenance and repairs, gasoline (including gasoline taxes), oil, insurance, or vehicle registration fees... (bold added)

Yes that is the way it works. Just show reciepts for it all. I barley put 3 grand a year on my trucks, 1600.00 for the per mile deduction? No way. That is what fuel cost me alone.

 

[treemandan]

Seriuosly, I can see a quick trip to the corner store a few times but who is going to drive around doing personall things in a truck full of tools?

That question is actually part of an IQ test.

 

[dingeryote]

In black and white (on page 15 referenced above):
If you use the standard mileage rate for a year, you cannot deduct your actual car expenses for that year. You cannot deduct depreciation, lease payments, maintenance and repairs, gasoline (including gasoline taxes), oil, insurance, or vehicle registration fees... (bold added)

What?

Uh oh!!! LOL!!
Good thing I ain't an accountant.


Stay safe!
Dingeryote

 

[ATH]

Yes that is the way it works. Just show reciepts for it all. I barley put 3 grand a year on my trucks, 1600.00 for the per mile deduction? No way. That is what fuel cost me alone.

Yeah, I "Actual expense" my truck because it gets poor milage, is more expensive to maintain and I have had it for 3 years so it is still being depreciated. I also have a smaller car that I drive to meetings/trainings, etc... and use for personal use. I write the business mileage off of that one - it gets 30mpg, very low maintenance costs, and I have had it for 10 years.

Of course, you also have to recognize that if you are acutal costing a truck that after you have depreciated it for 5 years, you can't go back to mileage (after you have actual costed it, you cannot deduct the mileage in future years), so that means it is time to buy a new truck to depreciate :monkey:

 

[Greystoke]

Thanks for all of your input guys