The Ultimate Guide to Deducting Business Travel Expenses: Part 2 Posted on November 15, 2018 Traveling on the road Did you know that you can have deductions on your road travel, too? If you spend a lot of money on road travel for business purposes, this is worth looking into. What isn’t considered as deductible? As a general rule, your travels from home to work and vice-versa cannot be considered […]
Will I get Audited for Mileage? Posted on November 14, 2018 Are you a business owner who writes off business expenses under Schedule C? If yes, then you should be aware that there are certain costs that you will write off that will be vulnerable to IRS audits. Schedule C Taxpayers are Targeted by IRS Audits The IRS has a limited budget with which to verify […]
What Happens When the Oil in the Car Engine is Inadequate? Posted on November 13, 2018 An engine whose parts have been well lubricated using fresh and clean oil performs very well. However, as the fluid gets used in various parts of the engine, it breaks down and becomes viscous and dirty. Once this happens, your car stops being effective, and you will need to change the oil for it to […]
What are the IRS Commuting Mileage Rules? Posted on November 12, 2018 If you regularly drive to work, you can sometimes make a mileage deduction on your taxes. Many people do not understand the rules that the IRS has laid down regarding what is deductible. There is no such thing as a commuting tax deduction. However, there are circumstances where you can drive from home and the […]
What are the Available Uber Partnership Programs for Drivers? Posted on November 10, 2018 If you are reading this post, it means that you have been thinking of joining the Uber partnership service and haven’t quite decided which one of the services is best for you. Picking the right partnership program can be tricky, but if you know what each entails, you can easily make a decision. Besides, there […]
29 Ways to How to Save Money on Your Car’s Petrol Posted on November 9, 2018 The most significant operating expense for your car is petrol. You will significantly reduce your spending if you can track and minimise the cost of fueling your vehicle. Below are a few tips that can help you go a long way in saving fuel cost. 1. See the manual for your car’s octane level Most […]
The Ultimate Guide to Deducting Business Travel Expenses: Part 1 Posted on November 8, 2018 Tax deductions. Read it aloud… Doesn’t it produce a beautiful ring in your ear? This may be even more so for taxpayers who may not fulfil the requirements for tax credits, especially the refundable ones. If that’s the case for you, you have a lot of tax deduction options to explore: medical expenses, charitable expenses, […]
All You Need to Know About Mileage Deductions Posted on November 7, 2018 If you regularly use a vehicle in your small business, you need to learn how to deduct the expenses you incur for running the vehicle. Understanding the tricks around mileage deduction, the tax advantages of buying versus leasing and the tax implications of depreciation of the vehicles. Some Pertinent Questions to Ask Yourself about Mileage […]
What are the Benefits of Premium Petrol? Posted on November 6, 2018 Premium petrol is also known as high octane fuel. The more the compression, the higher the energy that will be needed to combust the fuel. High octane petrol is primarily used on high-performance engines such as turbocharged cars because the fuel does not burn prematurely. Unless your car explicitly needs the high octane petrol, you […]
How to Claim Mileage on 2018 Taxes Posted on November 5, 2018 Every time you use your vehicle for business, the internal revenue service allows you to write off the amount of money you use for the car. For example in 2018, you can deduct as much as 54.5 cents for every business while you drive. You can only get the most out of your mileage if […]