The sad truth is, for most people, the cost of driving from home to work is not tax deductible. Which means they can’t write off the cost of gas, depreciation, and more.
But don’t get road rage! If you know how to play the game the right way, the IRS will give you a green light on a technique that can save you a lot of money. Though you may still be stuck in traffic every day, at least you’ll be able to turn all those stress-filled commuting miles into tax-deductible miles!
What are the rules of the road you need to know?
You’ll find out when you read my new article titled Tax Tips: Taxman Says Stop at the Bank to Eliminate Commuting—Wrong.
Three ways our fact-filled article can help you:
- You’ll learn the easy way to turn your personal commuting mileage into a business deduction. How do you do it? By creating an “administrative office” in your home. (It’s easier than it sounds!) Want to get the whole story in language you can understand? I’ll spell things out for you when you read the full article.
- We’ll explain the important “Temporary Work Location” rule. Revenue Ruling 99-7 contains the current definition of a “temporary work location” and lists a very important rule. If you know how to apply the rule correctly, you can save a lot of money. We’ll explain both the rule’s benefits and pitfalls when you read the full article.
- We’ll tell you about the IRS’s “One-Year” rule. (The IRS loves rules!) Is your employment expected to last one year or more? To take advantage of the tax law, the IRS demands that your answer is “yes.” We’ll give you all the facts and explain the rule when you read the full article.