Since I am using my truck for business/work......

Question

I have asked this question earlier and was told to keep a log of my mileage personal and work. My question is, should I use a trucker log or, some sort of spreadsheet? And if I should use a spreadsheet, do any of yall have a link to download a nice log?

By the way this is for tax purposes.

Answer 1

It doesn't have to be fancy.  A small spiral notebook in the glove box will work, with a column for the date, and one for each type of mileage (business, commuting and personal).  For ease of calculation, you might want to enter the info into a spreadsheet and let the computer add everything up

Answer 2

Hi - The IRS will let you deduct either a set amount per business mile driven (currently 50.5 cents), or the actual expenses of your car prorated for business use if you use it for both personal and business work.  If you keep careful records, often the actual expenses can be greater than 50.5 cents per mile.  You can deduct depreciation on the car itself, tags/license plate fees, personal property/excise taxes, repairs, gasoline, tolls, maintenance.  I would also recommend a spiral notebook as recommended below, and keep track of both your mileage and your expenses, and figure out which is the better option when you file your taxes.