Mileage rate

[Fkatz]

SORRY for THIS NEWS, but the mileage rate has not changed yet, no notices have been updated or received to date.


The standard mileage rate for all of 2012 is $ 55.5 per mile driven for busienss miles only

For Cargo Vans, up to 10,000 GVW only

Also, you must keep a accurate record of each load from start to finish, from the truckstop to the truckstop at the end of the load.
this is what they will look for,
Using year starting and ending mileage is no longer allowed, it must be actual in all ways.m Also since Cargo Vans do not log, you are going to have to provide Shipper and reciever to prove per deim

Since Straight trucks have a GVW of 26,0000 lbs and over they cannot use the standard mileage rate at all, So if you have been using this there will be a definite possibilty of a mileage audit in the very near future.

The IRS is planning on auditing between 500, 000 and 1 million
Sch C Sole Propreitors in 2013

Frank’s Tax andBusiness Service
120 York RD Kings Mountain, NC28086-3151
(704) 739-4039 Fax: (704) 739-3934
e-mail: [email protected]
Web Site: File Your Return Online
Franklin Katz, ATP, PA, PB,

Providing Professional Accounting, Bookkeeping, Payroll and Income TaxPreparation Services

*Circular 230 Disclaimer: To ensure compliance with Treasury Regulationsgoverning written tax advice, please be advised that any tax advice included inthis communication, including attachments, is not intended, and cannot be used,for the purpose of (i) avoiding any federal tax penalty or (ii) promoting,marketing, or recommending any transaction or matter to another person.

Confidentially Notice: This email message is Ifyou have receivedthis message in error and are not the intended addressee, please advise thesender by reply email and delete this message immediately.

*The IRS does not endorse any particular individual taxpreparer. For more information on tax return preparers go to IRS.gov
Its 55.5 cents per mile for all of 2012

 

[mjmsprt40]

I drive a cargo van, usually loaded out/empty back. I write the mileage at the start of the trip, then at the loading dock, then at the delivery and the final mileage is at the office where I drop the paperwork. I'm just a bit curious about how the mileage allowance should be figured for this. It is documented and written down, and I get the back sheet on all the trips so I have a written copy for every job I've run. The company hardly ever has anything coming back and they want me to come back to the Chicago area dead-head so figure half of all my business miles are dead-head miles.

 

[Fkatz]

Morning mjmsprt40

it is the total mileage that is used for business. that is from the time you leave the office, and return, doesn't make any difference weather its dead-head or not.

But, I do not know what company which is normally at the end of it, and you work for, but I myself would check the Load Boards in the truck stops under LTL freight, and see if you can find something back to or around the office, this way you get paid both ways.
But make sure you are able to do that, Some companies allow it, and take 15-20% of of that load. the reason for this is that you are using there DOT #'s ad insurance for that load.
Also check any other internet load boards to see if you can get something back, I know I would.

Frank

 

[mjmsprt40]

Morning mjmsprt40

it is the total mileage that is used for business. that is from the time you leave the office, and return, doesn't make any difference weather its dead-head or not.

But, I do not know what company which is normally at the end of it, and you work for, but I myself would check the Load Boards in the truck stops under LTL freight, and see if you can find something back to or around the office, this way you get paid both ways.
But make sure you are able to do that, Some companies allow it, and take 15-20% of of that load. the reason for this is that you are using there DOT #'s ad insurance for that load.
Also check any other internet load boards to see if you can get something back, I know I would.

Frank

Thank you. I thought that total business miles was the case but wasn't absolutely sure. Unfortunately, the outfit I drive for at the moment doesn't allow using their authority on runs they didn't have a hand in.

 

[bubblehead]

SORRY for THIS NEWS, but the mileage rate has not changed yet, no notices have been updated or received to date.


The standard mileage rate for all of 2012 is $ 55.5 per mile driven for busienss miles only

Since Straight trucks have a GVW of 26,0000 lbs and over they cannot use the standard mileage rate at all, So if you have been using this there will be a definite possibilty of a mileage audit in the very near future.

The IRS is planning on auditing between 500, 000 and 1 million
Sch C Sole Propreitors in 2013

Frank’s Tax andBusiness Service
120 York RD Kings Mountain, NC28086-3151
(704) 739-4039 Fax: (704) 739-3934
e-mail: [email protected]
Web Site: File Your Return Online
Franklin Katz, ATP, PA, PB,

Providing Professional Accounting, Bookkeeping, Payroll and Income TaxPreparation Services

*Circular 230 Disclaimer: To ensure compliance with Treasury Regulationsgoverning written tax advice, please be advised that any tax advice included inthis communication, including attachments, is not intended, and cannot be used,for the purpose of (i) avoiding any federal tax penalty or (ii) promoting,marketing, or recommending any transaction or matter to another person.

Confidentially Notice: This email message is Ifyou have receivedthis message in error and are not the intended addressee, please advise thesender by reply email and delete this message immediately.

*The IRS does not endorse any particular individual taxpreparer. For more information on tax return preparers go to IRS.gov
Its 55.5 cents per mile for all of 2012

What deduction is allowed for the straight trucks with a GVWR of <26000?

 

[Fkatz]

For any Straight TRuck over 10,000 LBS GVW cannot use the mileage rate, it must use Actual Expenes,
Fuel. tolls, repair, insurance etc, only

Franklin katz
315 E. King St
Kings Mountain, NC 28086
704-739-3934 for now
704-739-4039 has not been reconnected yet. since I moved on Feb 4th