Comments on: IRS Increases Mileage Rates through Dec. 31, 2008 http://www.creditwithdrawal.com/wordpress/2008/07/02/irs-increases-mileage-rates-through-dec-31-2008/ Helping You Kick the Credit Habit, One Good Idea at a Time Thu, 31 Dec 2009 04:56:04 -0700 http://wordpress.org/?v=2.8 hourly 1 By: Randall http://www.creditwithdrawal.com/wordpress/2008/07/02/irs-increases-mileage-rates-through-dec-31-2008/comment-page-1/#comment-2725 Randall Wed, 11 Feb 2009 13:15:10 +0000 http://www.creditwithdrawal.com/2008/07/02/irs-increases-mileage-rates-through-dec-31-2008/#comment-2725 I believe you can write off any unreimbursed business related expense. As long as the money was paid for fuel for business trips, it should qualify. Subject to the standard 2% of AGI deduction. Need to check with a tax professional (which I am not) just to be 100% sure. I believe you can write off any unreimbursed business related expense. As long as the money was paid for fuel for business trips, it should qualify. Subject to the standard 2% of AGI deduction.

Need to check with a tax professional (which I am not) just to be 100% sure.

]]> By: allota miles http://www.creditwithdrawal.com/wordpress/2008/07/02/irs-increases-mileage-rates-through-dec-31-2008/comment-page-1/#comment-2721 allota miles Tue, 10 Feb 2009 22:01:41 +0000 http://www.creditwithdrawal.com/2008/07/02/irs-increases-mileage-rates-through-dec-31-2008/#comment-2721 I have a company vehicle,however, money is deducted from my commissions for use of the vehicle. Can i write off mileage?I also pay for the fuel. I have a company vehicle,however, money is deducted from my commissions for use of the vehicle. Can i write off mileage?I also pay for the fuel.

]]> By: driving a lot http://www.creditwithdrawal.com/wordpress/2008/07/02/irs-increases-mileage-rates-through-dec-31-2008/comment-page-1/#comment-2566 driving a lot Sun, 23 Nov 2008 12:38:39 +0000 http://www.creditwithdrawal.com/2008/07/02/irs-increases-mileage-rates-through-dec-31-2008/#comment-2566 Hi- My employer reimburses my mileage @ .58/mile; however they recently relocated my territory. Now, the two days a week I drive to my accounts, i have to drive 3 hours one way. I will spend the night and then drive back the next day. Is it correct I can only get reimbursed for the mileage from the first stop to the second stop- not for the three hours I am driving to get to my accounts? Hi-
My employer reimburses my mileage @ .58/mile; however they recently relocated my territory. Now, the two days a week I drive to my accounts, i have to drive 3 hours one way. I will spend the night and then drive back the next day. Is it correct I can only get reimbursed for the mileage from the first stop to the second stop- not for the three hours I am driving to get to my accounts?

]]> By: Randall http://www.creditwithdrawal.com/wordpress/2008/07/02/irs-increases-mileage-rates-through-dec-31-2008/comment-page-1/#comment-2494 Randall Tue, 11 Nov 2008 15:19:44 +0000 http://www.creditwithdrawal.com/2008/07/02/irs-increases-mileage-rates-through-dec-31-2008/#comment-2494 @Bird, No that doesn't sound correct. But your employer doesn't 'have' to give you the full government rate though. You will probably have to claim the difference in unreimbursed business expenses on your taxes next year. Keep track of your mileage, and consult a tax accountant to see how much of that will count. Factors like 'typical driving distance' come into play sometimes. For instance, the distance you drive into normal work (the office) isn't deductible, but driving to a client site is. @Bird, No that doesn’t sound correct. But your employer doesn’t ‘have’ to give you the full government rate though. You will probably have to claim the difference in unreimbursed business expenses on your taxes next year.

Keep track of your mileage, and consult a tax accountant to see how much of that will count. Factors like ‘typical driving distance’ come into play sometimes. For instance, the distance you drive into normal work (the office) isn’t deductible, but driving to a client site is.

]]> By: Bird http://www.creditwithdrawal.com/wordpress/2008/07/02/irs-increases-mileage-rates-through-dec-31-2008/comment-page-1/#comment-2493 Bird Tue, 11 Nov 2008 13:57:34 +0000 http://www.creditwithdrawal.com/2008/07/02/irs-increases-mileage-rates-through-dec-31-2008/#comment-2493 I drive client to client everyday using my own personal vehicle. My employer pays me .25 cents per gallon. I s that correct? I drive client to client everyday using my own personal vehicle. My employer pays me .25 cents per gallon. I s that correct?

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