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08-31-2011, 04:23 PM
If you are using your vehicle for business, make sure you track your mileage. The IRS allows you to write-off 51 cents per mile on your taxes as a business expense.

For month of August, I am able write-off $430 as a result of using my vehicle for business.

08-31-2011, 10:15 PM
That's awesome! I love how that mileage ads up!

I've been able to take thousands in auto mileage deductions every years since having my own business!

09-01-2011, 09:26 AM
Me too. I didn't begin tracking my mileage until August 13, 2011, when I received the car door magnets and put them on my car. Otherwise, I would have had over $1,000 in mileage expenses!

09-02-2011, 03:51 PM
Wow, that's good to know, Marcus - thank you for posting! I was going to add a vinyl banner ad to my back car window later this month... but I may need to do it SOONER than later ;)

09-02-2011, 11:25 PM
You're welcome. I've used car magnets and vinyl lettering for every business I have done. We also have car magnets on my wife's car to promote her book.

The tax advantages of being a business owner are great! :D

09-03-2011, 06:21 AM
That's awesome; every deduction helps; you can also deduct a portion of your utility cost if you work from home. You will need the square footage of the area you use to work and your expenses for gas, electric and water; If you use your telephone for business purposes and the internet as well.

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