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March 1, 2025
Question

Stride milage

  • March 1, 2025
  • 1 reply
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What if I didn’t record my mileage at the beginning of the year? Or when I started my gig job?

    1 reply

    DawnC
    March 1, 2025

    If you're using the standard mileage rate, you must keep a log that shows the date, business purpose of each trip, and miles driven. The standard mileage rate includes allowances for fuel, insurance, maintenance, repairs, and wear and tear.  The only additional vehicle expenses you can deduct on top of the standard mileage rate are parking fees and highway tolls.

     

    If you use the actual mileage method, you will need to know how many business miles as  well as other (personal + commuting) to establish a percentage of business use for the vehicle.   

     

    You don't have to submit documentation with your tax return, but you need to be able to prove your deduction in the unlikely event of an inquiry.   

     

    Mileage Deduction for Business

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