How do I get an IRS Mileage Reimbursement?An IRS mileage reimbursement is a great way to save money on gas. You are eligible to claim your gas mileage as a tax deduction for:
How Do I Track My Gas Mileage for My IRS Mileage Reimbursement?Tracking your gas mileage for a tax deduction is really quite simple.Keep a small notebook and pen in your car. When you drive your car for one of the above four reasons, reset your trip counter before you begin. After the trip is over, write down the following in your notebook:
Make sure you frequently put this information in a spreadsheet on your computer to keep it well organized and handy. Print it out and give it to your tax preparer when it's time to file your taxes.
Here's a great example: -Date: June 12, 2009 Here's another example: -Date: Feb. 3, 2009 It's so simple, and yet so many people don't bother. Think of the money you'll save! How Much Money Will I Get for My Miles?The amount of money you'll receive for your mileage reimbursement changes from year to year, and varies depending on what you were doing when you used those miles.As of Nov. 2008, for the 2009 tax year, each mile driven is worth:
In the examples we used above, the businessman will get around $46.00 back in taxes! The volunteer will get back around $2.00. If you make these kinds of trips frequently, it really adds up!
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