rskybiz
TreeHouser
I hired a new guy, what's the consensus on writing off his mileage as I have been using his truck to complete work?
Mileage write off
- Thread starter rskybiz
- Start date
- Replies 14
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CurSedVoyce
California Hillbilly
You would have to keep a log of mileage on it. No biggie.
Diligence is key though.
Diligence is key though.
jefflovstrom@sb
TreeHouser
I would get a gas card that would be used for that vehicle and used for gas, oil, etc,,basically a credit card that reflects usage for that truck.
jefflovstrom@sb
TreeHouser
With a gas card, you input the milage at the pump.
It seems this would be easiest
sotc
Dormant hero!!
I'm with Steve, pay him what ever trick rent you decide, he can keep track of his own mileage to write off If he likes
SouthSoundTree
Treehouser
Was that auto-correct, Willie?
ever trick rent you decide.
Seems like paying him mileage is best. It should be enough to cover the who truck ownership and operation. I think that IRS allows about 55 cents per mile to cover all costs. A truck would average out more per mile, IMO.
You could easily have the mileage reimbursement on his check, probably in an non-taxed category.
ever trick rent you decide.
Seems like paying him mileage is best. It should be enough to cover the who truck ownership and operation. I think that IRS allows about 55 cents per mile to cover all costs. A truck would average out more per mile, IMO.
You could easily have the mileage reimbursement on his check, probably in an non-taxed category.
sotc
Dormant hero!!
Yeah, should have been truck rent.
Sean, your post is dated 12-31-1969.....
Sean, your post is dated 12-31-1969.....
SouthSoundTree
Treehouser
Goin' retro...
CurSedVoyce
California Hillbilly
Gotta love that $.55/mile....I bought a 2003 VW Passat three weeks ago. 32+ MPG. Every time I leave in it, I log the mileage and make sure I do SOMETHING pertaining to work while I'm out and about.
NickfromWI
King of Splices
At the last company I worked for the boss would only pay 20¢ per mile. I confronted him about it using the IRS rate as my evidence that it should be higher.
He fairly said, "prove to me where that 55¢ comes from and I'll pay it."
I spent a few hours doing a huge formula taking into account average miles that a person has a car, avg cost of gas, maintenance, major repairs, the cost of the vehicle, depreciation, adding a little to account for things I couldn't think of and the most I could come up with was 32¢ per mile.
He made the company reimbursement rate 35¢ from that point forward and offered $100 to anyone that could find the error in my formula that accounted for the extra 20¢/mile. I had a week of people asking me "did you account for this? Dd you account for that?"
I'd love to talk to the IRS about tht 55¢
love
nick
He fairly said, "prove to me where that 55¢ comes from and I'll pay it."
I spent a few hours doing a huge formula taking into account average miles that a person has a car, avg cost of gas, maintenance, major repairs, the cost of the vehicle, depreciation, adding a little to account for things I couldn't think of and the most I could come up with was 32¢ per mile.
He made the company reimbursement rate 35¢ from that point forward and offered $100 to anyone that could find the error in my formula that accounted for the extra 20¢/mile. I had a week of people asking me "did you account for this? Dd you account for that?"
I'd love to talk to the IRS about tht 55¢
love
nick
SouthSoundTree
Treehouser
Seems like my chip truck is about .75 a mile just in fuel.
