I want to start keeping records for my fuel expense I spend going to work. Besides receipts and odometer readings is there anything else I need to record. Also will I get all of this money back I spend or how does it work?
2007-08-17 13:20:57 · 4 answers · asked by LOFT1009 5 in Business & Finance ➔ Taxes ➔ United States
If it's just commuting back and forth to work, you don't need to bother. You don't get anything for just driving to/from work.
2007-08-17 14:41:26 · answer #1 · answered by Anonymous · 2⤊ 0⤋
For items that are allowable deductions, you don't get it all back - some of all of it is subtracted from your taxable income before your taxes are figured, so at most you get a percentage of the expenses off your taxes that's equal to your tax bracket.
But you mention the expenses of going to work - none of that is deductible. Travel from home to work and back is called commuting expense, and is a personal expense and not deductible.
2007-08-17 21:57:06 · answer #2 · answered by Judy 7 · 2⤊ 0⤋
Only if you are self-employed. The goverment does not allow you to write off your commuting expenses.
2007-08-17 20:25:45 · answer #3 · answered by Anonymous · 4⤊ 0⤋
Commuting back and forth to work is not deductible.
2007-08-17 21:33:19 · answer #4 · answered by Wayne Z 7 · 2⤊ 0⤋