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2007-01-09 14:10:19 · 9 answers · asked by sassy_miss3377 1 in Business & Finance Taxes United States

9 answers

gas no milage yes for details do a search for miliage deductions on www.irs.gov web site.

2007-01-09 14:14:08 · answer #1 · answered by Anonymous · 0 0

There's no separate deduction for gas - this expense is included within the standard deduction for car mileage, which is supposed to cover all car expenses, including gas, oil, repairs, depreciation, etc.

The standard deduction on your federal tax return increases in 2006 to 44.5 cents per mile, increasing from 40.5 cents at the beginning of 2005. In September 2005, the IRS made a special one-time adjustment for the last four months of 2005, raising the rate for business miles to 48.5 cents per mile in response to a sharp increase in gas prices, which topped $3 a gallon.

2007-01-09 22:26:08 · answer #2 · answered by Marko 6 · 0 0

If you drive your vehicle for business purposes you can deduct the cost of fuel.

If you want to do this, you follow the rules for taking "actual expenses" not "optional expenses" which is the so-called "mileage."

2007-01-10 08:57:07 · answer #3 · answered by ninasgramma 7 · 0 0

You can use the standard rate of 44.5 cents per mile for vehicle use or you can deduct the actual expenses for gas, oil, repairs, insurance, tires, license plates, etc.

2007-01-09 22:41:36 · answer #4 · answered by Smart1 3 · 0 0

Mileage can be deducted if it is for a business but you must keep a gas log in case you get audited.

2007-01-09 22:17:11 · answer #5 · answered by tohellwitu 2 · 0 0

Not if your are using the auto for personal travel including commuting back and forth to your W-2 employer.

Yes if you are self employed; mileage rate or actual expenses.

2007-01-10 15:00:09 · answer #6 · answered by zudmelrose 4 · 0 0

If your driving is linked to a business, you can write it off as a business expense.

2007-01-09 22:14:08 · answer #7 · answered by Robert W 2 · 0 0

Yes you can if you are using your car for a business or if you do 2 jobs.

2007-01-09 22:16:16 · answer #8 · answered by nick 2 · 1 1

miles...........

2007-01-09 22:24:18 · answer #9 · answered by cork 7 · 0 0

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