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SE Washington | When I referred to mileage log I mean when guys write down in a notebook every time they make a business related trip. I think figuring annual mileage is pretty easy for most guys and with a little foresight you just have to check it at the beginning and end of year. Hypothetically if a guy were to note his mileage on Jan 1 and on Dec 31 of the same year and conclude he traveled 10,000 miles on the year; 10000x.75=7500 deductible miles x the standard rate of 54.5 cents. 7500x.545= a deduction of $4087.50. Is this an acceptable method? | |
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Farm tax question - pickup truck
