“How Failed Mileage Logs Kill
Mileage Deductions”
To get my complete, FREE article
with all the details…
Here are four words that can save you a whole lot of grief.
Keep a mileage log.
Here’s why:
If you fail to keep an up-to-date, accurate mileage log, it can cost you time and money during an IRS examination… and then can result in your getting zero vehicle deductions!
Section 274(d). A nasty change in the law.
Before Section 274(d), you could estimate your business mileage and the IRS and the courts could accept your estimates.
Section 274(d) did away with estimates of business mileage. Today, you need to substantiate the amount of your mileage, your time, and the purpose of each use. And remember, the courts won’t estimate your vehicle deductions.
Learn from the Flake case.
Don’t do what the Flakes did.
Jim and Martha got zero help for their vehicle deductions in court because:
- They created their mileage records after the fact during the IRS audit.
- The mileage in the submitted records contained math errors and did not tie to the tax return.
What’s more, because of other factors, the Flakes got a visit from the IRS every two weeks for over a year! Talk about pain!
Want to make sure you stay out of trouble with the IRS, keep an accurate mileage log. It isn’t worth getting Flakey as you’ll learn when you…
CLICK HERE and read my completely new article titled:
“How Failed Mileage Logs
Kill Mileage Deductions”