Business Vehicle Mileage Log For Tax Purposes
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1RECORD KEEPING REQUIREMENTS
SUMMARY PAGE
Mileage at beginning of the year
The Internal Revenue Service may require you to
VEHICLE
Mileage at end of the year
substantiate the business use of your motor vehicle.
This pamplet is design to help you meet this
MILEAGE
obligation.
Accurate recordkeeping is vital to
Total Miles Driven for the Year (B)
providing proof of business use of a motor vehicle
for tax purposes. The Internal Revenue Service
Page
LOG
requires the following information:
Numbers
Business Miles Driven
WHEN business use occurs
Page 1
WHERE business use occurs
Page 2
WHAT is the business purpose
Page 3
HOW MANY business miles driven
Total (A)
WHO is the user
A mileage deduction may also be taken for medical,
Percent of business Miles
charity or investment purposes, These rates are
%
compared to total
different from business use.
Consult your tax
miles driven (B / A)
advisor for applicable rates. DO NOT use these
mileage deductions when figuring your percentage
of business use.
Use this log to keep accurate daily records of your
business use of your motor vehicle.
HOW TO USE THIS MILEAGE LOG
The purpose of this log is to help you determine your
Wilson's
business use percentage for tax purposes. On the top
of the back cover, log in your beginning odometer
Bookkeeping & Tax Service
reading for the year. At the end of the year, log in your
ending odometer reading. This will give you the total
517 2nd Street, P.O. Box 43
miles driven for the year. On the back there is a
summary page for adding up your business use
Ida Grove, IA 51445
mileage. Your business use mileage divided by your
(712) 364-3949
total mileage is your business use percentage.
At the beginning of each business trip enter the date,
your beginning odometer reading, destination and
reason for the trip. At the end of the business trip, enter
your ending odometer reading. The difference between
these two odometer readings is your business mileage.
Enter each page's total mileage on the back summary
page. This will allow for easy totaling of your business
mileage for the year and calculating your business use
percentage.
"Your Friendly Accountant"
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Parent category: Miscellaneous