Tracking business miles for tax purposes - Fuelly Forums

Click here to see important news regarding the aCar App

Go Back   Fuelly Forums > Fuelly Community Support > Fuelly Web Support and Community News
Today's Posts Search Click Here to Login
Reply
 
Thread Tools Display Modes
 
Old 08-16-2011, 11:49 PM   #1
Junior Member
 
Join Date: May 2011
Posts: 2
Country: United States
Location: Atlanta
Tracking business miles for tax purposes

I was wondering if it was possible for us to get an additional box when adding a fuel-up to add business miles driven. The website tracks everything that is needed for business expense and income tax purposes except the business mileage aspect of it. I would see this as a large benefit to your customer base and would also allow people who don't care as much about fuel mileage but just business expense tracking to use your website. I love Fuelly and I advise my clients to track their mileage and fuel expenses through your website.
__________________

Illuminati is offline   Reply With Quote
Old 08-17-2011, 01:57 AM   #2
pb
Senior Member
 
Join Date: Jul 2008
Posts: 1,588
Country: United States
Location: Corvallis, OR
I can definitely see how this would be useful. The problem is that it complicates the fuel-up form and I'm not sure we'd have enough people using it to justify that.

With the current system you could store business miles in the notes field. Then, when it's time to add everything up, export your fuel-ups. Add the notes column up in a spreadsheet program like Excel and you'd have your business miles total. Not as handy as having Fuelly calculate it for you, but it could work.
__________________

pb is offline   Reply With Quote
Old 08-17-2011, 03:33 AM   #3
Senior Member
 
Join Date: Jul 2008
Posts: 260
Country: United States
Location: McMinnville, OR
I could imagine seeing this being an option added to your fuel up form that is off by default.

How would you want it to work? Should it be a business "slider" of percent like the highway/city one or just an absolute number? I've never tracked business miles too strictly myself so I'm unsure of what the easiest and most normal way to do this is.
mathowie is offline   Reply With Quote
Old 08-17-2011, 04:07 AM   #4
Senior Member
 
Join Date: Mar 2011
Posts: 329
Country: United Kingdom
http://biztaxlaw.about.com/b/2010/01...d-a-lesson.htm

From the above website:

IRS Requirements for Mileage

The IRS wants "timely and accurate" records. They expect you to keep a "daily log showing miles traveled, destination and business purpose." My CPA suggested I look back through my 2009 business calendar to see if I recorded any trips, but it might be difficult for the IRS to accept any records I produce, since they weren't created at the time of the travel.

I don't think that would fit in with fuelly - they want individual trips to be logged, not just the mileage.
MMUK is offline   Reply With Quote
Old 08-17-2011, 01:49 PM   #5
Senior Member
 
Join Date: Oct 2009
Posts: 216
Country: United States
Location: EUP Michigan
As long as you aren't adding more stuff to the export.CSV files again. I hate having to recode my importing with Excel... The last time it was lat/long that messed me up out of the blue.

LOL
DTMAce is offline   Reply With Quote
Old 09-13-2011, 11:52 PM   #6
Junior Member
 
Join Date: May 2011
Posts: 2
Country: United States
Location: Atlanta
Sorry for taking so long to respond...

While according to the IRS you are supposed to keep a daily log book, they accept many less stringent forms of documentation. I have actually given an IRS agent an oil change receipt in January and December and called it 25% of the net change.

I currently use the notes section to document my business mileage but I was wanting a place to put a hard number as opposed to a sliding scale. I think most IRS agents would accept an excel spread sheet with total mileage, fuel cost and business mileage updated every fuel up, it just seems more reasonable than updating daily mileage journal, which no one does unless they are a truck driver.

To be honest I just thought it would be a nice addition to enter in at the fuel up section because for me tracking my mileage in my TDI is about saving money and another way to save money to correctly track your business miles and deduct them on your income tax return. You currently get 55 cents per mile which really adds up over to course of a year.
__________________

Illuminati is offline   Reply With Quote
Reply


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


» Fuelly Android Apps
No Threads to Display.
Powered by vBadvanced CMPS v3.2.3


All times are GMT -8. The time now is 09:58 AM.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.