Exceltemplates.org – The IRS is closely scrutinizing the business mileage deduction because many taxpayers abuse it. The most common reason why taxpayers lose the mileage deduction is because they lack appropriate record. There are so many cases showed that attempted an IRS mileage log is not as easy as it looks. For people who use their car for business, whether as part of their job or self-employed, the business mileage deduction can be a huge boost at tax time. However, one condition has to be fulfilled is that the mileage log must be accurate and follow the requirements.
If you use your car for business, then you do not want to end up in the tax court with tax deduction cancellation. Actually, it is easy to avoid he unwanted risk. All you have to do is just keeping minimally adequate records. The IRS has regulated that you must keep a record of your mileage, the places you visit for business, the dates of your trips and the business purposes.
You must also know that the IRS also wants to know the total number of distance you drove during the year for personal, commuting and business driving. The best way to show to the institution how far you drove for business is keeping contemporaneous records, which mean that you create a record each day you drive for business.
To keep track of your driving, a paper mileage logbook is one of the best options. However, you can also use your GPS tracking to calculate the mileage you have travelled for each trip. This mileage log template used by so many companies. They use it for tracking their car operational expenses or vehicle trip. This mileage log spreadsheet can also be used for calculating your business driving record.
Actually, this mileage log is just the same as other mileage log you usually find in several websites. It is only record the mileage and then calculate the total mileage of your car within certain period of time. Here, you can fill the average cost, especially if you want to calculate the vehicle operational expenses. Once again, this mileage log can also be used for calculating tax deduction.
It is easy to work with this mileage log, what you need to do is just filling the white color parts. You have to leave the blue color parts because it is for calculating the number. So, you do not have to worry about the IRS because as long as you provide clear and correct information with the mileage logbook, you will not find any trouble. So, download and print the mileage log template in this page if you want to record your car’s mileage.
