how much can i deduct for daily expences being i drive over the road and what line do i put in my deductions for this
thank you
2007-03-06 03:19:24 · 3 answers · asked by kenny b 1 in Business & Finance ➔ Taxes ➔ United States
http://www.irs.gov/irb/2006-46_IRB/ar08.html
This should answer a majority of your questions.
good luck & bless
2007-03-06 05:12:42 · answer #1 · answered by Wood Smoke ~ Free2Bme! 6 · 0⤊ 1⤋
If all you are paying for is for your daily commutation to and from work, it is non-deductible (personal expense).
If however, you use your car for business purposes, you can claim mileage, depreciation, repairs, insurance, registrations, etc., but only on the business portion.
You can claim these expenses on Form 2106 "Employee Business Expense" if you are an employee (Itemized Deduction, only) or on Form Schedule C, if you are an independent contractor.
Its best to consult a tax professional or CPA to help you on this matter.
2007-03-06 05:18:36 · answer #2 · answered by bold4bs 4 · 0⤊ 0⤋
please clarify. Everyone drives over the road so that isn't a deduction. If you use your car for business you can deduct 44.5 cents a mile.
2007-03-06 03:26:26 · answer #3 · answered by toddrws 1 · 0⤊ 0⤋