Turn your GPS miles into money

Driving for business is a tax-deductible
business expense, provided that you keep an accurate mileage records.  IRS 2016 rules enables you to deduct 54
cents for every business mile you drive.
For example, if you drive 5,000 miles
for business during the year, you can deduct 5 000 x 54 cents that is $2,700 in tax deduction. But keep in mind that you need to have an accurate business mileage record. This also protects you against IRS penalty if you get audited. 

So what is considered business driving? Simply all driving to business locations such as: customer visits, travel between offices, trip to the bank, job seeking, trips to meet clients, airport travel etc. 

Be aware communing trips from your home to office are not considered as business trips, so they are not deductible. 

Download Vezma GPS & Vehicle fleet tracking app. Android. iOS, WP8


You can visit us at
https://www.vezma.com/

Recommended Posts