Claiming Mileage on Your Expense Report: Tax Implications

[jrb0328]

Do you claim mileage on your expense report? I have read that for tax purposes, if you dont have the odometer reading its harder to claim the mileage.


I ask this because i was looking at my income/expense report and i have a little more(not much) expense than income. and i know this can be normal in the beginning. should i claim everything that is an expense as an expense or are there some things that aren't THAT important?

 

[chefann]

I claim mileage. I write down beginning and ending odometer readings for each trip. But I usually skip trips around town when I'm running other errands, too. Don't forget that the mileage deduction goes up for this year to 50.5 cents a mile!

 

[Admin Greg]

It depends on the specific guidelines and policies set by your company or organization. Some may require you to provide an odometer reading for mileage claims, while others may not. It is always best to follow the guidelines and be honest and accurate in your expense reporting. If you are unsure about a particular expense, it is always best to consult with your employer or supervisor for guidance.