For 2013 you get 56.5¢ for each business mile (keep your logs daily) . While employees can’t deduct driving to work, look at visits to clients, extra meetings, errands or shopping for supplies. Business owners – especially child care providers – have the same and more.
Landlords need to log trips to the property, buying supplies, driving for maintenance, etc. Keep a record of all business mileage – and personal mileage! Costs for parking and/or tolls can be claimed in addition to the mileage deductions.
Be sure to attend my 2014 seminar on Tax and Recordkeeping.
Saturday, January 11, 2014
1:00 p.m. – 4:00 p.m.
YMCA CRS Mission Valley
3333 Camino del Rio South Suite 400
San Diego, CA 92108
For more information, call 1-800-481-2151
Source: Tax News & Tips, Year End 2013