Comments on: Tax Savings: How to Deduct Mileage on Your Personal Car

By: Year End Tax Moves | Cash Money Life

Year End Tax Moves | Cash Money Life — Mon, 22 Dec 2008 10:55:21 +0000

[...] for a job or relocated due to military requirements, you can deduct related expenses. You can also deduct mileage on your personal car if it was used for work (commuting does not [...]

By: Madison

Madison — Tue, 02 Sep 2008 14:46:54 +0000

@ George and Randall: It sounds like lots of companies aren’t keeping up with the IRS rate. That’s unfortunate, especially with gas prices so high.

By: Randall@Creditwithdrawal

Randall@Creditwithdrawal — Sat, 02 Aug 2008 15:05:39 +0000

Thanks for the include. Figuring mileage and what’s deductible (and more importantly, what’s NOT) is sometimes a pain. My company is still stuck at the Govt. per-diem rate, which is trailing the IRS rate by $.08/mile. I may have to deduct it next year on taxes, separately.

By: Festival of Frugality 134 | On Financial Success

Festival of Frugality 134 | On Financial Success — Tue, 15 Jul 2008 10:09:20 +0000

[...] My Dollar Plan’s Tax Savings: How to Deduct Mileage on Your Personal Car [...]

By: Roundup and Link Love - Back from Vacation 2008 Edition | The Wisdom Journal

Fri, 11 Jul 2008 13:41:22 +0000

[...] from My Dollar Plan is thinking ahead! She wrote about deducting mileage from your taxes while using your personal vehicle. I know I can always count on her to help me make good plans for [...]

By: George

George — Fri, 11 Jul 2008 11:53:27 +0000

Great question and Thanks for the work here to get the answer. That is what I found out in the past when trying to deduct excess work mileage. The problem is the 2% floor. You have to do a lot of driving and still lose $2000 on a $100K income. At least you might get something but that is a huge hit. My employer only reimburses for less than $0.40 per mile. I have to drive a ton before I could deduct anything on my taxes. And as we all know, the IRS isn’t exactly generous with the $0.58 per mile number.

By: Alisa

Alisa — Wed, 09 Jul 2008 02:15:22 +0000

It’s great to know that mileage can be deducted. I like this site! It’s loaded with helpful information.

By: Kyle

Kyle — Tue, 08 Jul 2008 19:23:19 +0000

Thank you Madison! I really appreciate the effort you have put into this website and my question.

By: jay

jay — Tue, 08 Jul 2008 17:53:47 +0000

Don’t forget mileage to/from medical events, as well as parking fees! Long ago I recorded roundtrip mileage for all the places we visit, and now, at the end of the year I do a report in Quicken and can easily total mileage, fees.
Obviously, the value of tracking this depends on your personal situation.

By: Patrick

Patrick — Tue, 08 Jul 2008 14:25:41 +0000

I took a business trip in my POV yesterday, but with the total trip only being about 2 miles I didn’t record it. Almost every business trip I take gets combined with a personal trip, which makes tracking them extremely difficult. I usually only make trips to the post office or bank, which are both on the way home from my day job. It’s just easier combining trips than recording them to save a couple bucks at tax time (at least in my situation).