February 10th, 2017 → 11:27 am @ Carol
Business mileage at 54 cents a mile (for 2016) is a great tax deduction!
But.. no one likes recording odometer readings, so I use information from Google maps instead.
Mileage records must be kept contemporaneously, meaning at the same time (or close to the time of the trip, not years later!)., Don’t rely on your memory.
Record the destination and date and then use Google maps to calculate the distance.
About 90% of my tax clients use the standard mileage rate, not their actual expenses. That’s because personal and business miles are usually mixed in the same tank of gas.
But keep parking and tolls receipts. You can deduct those in addition to the mileage rate.
Need to know more about tax deduction for writer?
Download my ebook, Tax Deductions for Writers. All it will cost is your email address.
Carol Topp, CPA
Tags: author, business deduction, mileage deduction, professional writer, tax deductions, writer