I am a flight instructor and I am classified as an independent contractor with my flight school. I am not disputing the fact I am an independent contractor, I've signed papers declaring this and I receive a 1099 for wages. I would like to know if I can write off my driving expenses to and from the airport? I drive an hour to the airport and an hour home each day (all highway, a peaceful drive). I have a home office where I fill out logbooks, schedule flights, email students, make lesson plans, stay current with the ever changing aviation regulations, etc. I use my office quite often for work. How could I set this situation up so I can lessen the punch of high fuel costs by deducting my business commutes from my personal driving? I would like to do this so the IRS does not have a problem with it.
I've done online searches but could not find the information I needed. An answer from someone with experience in this field would be greatly appreciated.
2007-11-25 12:08:33 · 4 answers · asked by Anonymous in Business & Finance ➔ Small Business
You need a good accountant. I have been self-employed over 10 years. Many thigs are tax deductible some are not - you need to learn what is and what is not. A log book for business, for work miles driven and gas are tax deductible, if you have a lease it is more of a tax deduction, home office is tax deductible as are many other things like printing, office supplies, postage, health insurance etc. Be careful with meals and dry cleaning. Also keep all receipts for purchases over $25
2007-11-25 12:27:49 · answer #1 · answered by ? 2 · 0⤊ 0⤋
When you file your income tax return, file a schedule C, report your income from your 1099 and deduct all your expenses. The person filing your tax return should be able to assist you with the correct way to claim all your expenses. If not, the IRS has help lines that will assist you over the phone and they have local offices in most towns to assist filers. If you're doing this yourself with a purchased software, chose the business expense schedule C. This schedule is for self-employed people and if you're getting a 1099, then you're qualified to file this form.
2007-11-25 12:22:11 · answer #2 · answered by simon s 2 · 0⤊ 0⤋
You need a tax professional. You should keep a log book of your business expenses and a separate log of business mileage. Then give it to your tax preparer.
2007-11-25 12:16:37 · answer #3 · answered by hottotrot1_usa 7 · 0⤊ 0⤋
If you itemize, you can put your business miles on Schedule A.
2007-11-25 12:53:22 · answer #4 · answered by Anonymous · 0⤊ 0⤋