Mileage Deduction

[b35w]

Im about to tackle my 2018 taxes. What changed
In regards to mileage? Isn’t it just a standard deduction?


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[Steelin' Ducks]

Big money like you should have someone taking care of all this for you.

[b35w]

Big money like you should have someone taking care of all this for you.

Psh. I’m broke


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[Steelin' Ducks]

Running your own business and doing your taxes, you will stay broke.

[SaltMuck]

You a salesman of sorts? If so, no more mileage deduction.

[trkykilr]

Running your own business and doing your taxes, you will stay broke.

He’s right, you know

[BEAR]

My wife used to be able to deduct her mileage for work. With the new tax laws, you can’t deduct mileage, maintenance nothing, unless you get a 10-99. You used to be able to count $4,000 for each person in your household, but you can’t do that anymore. The standard deduction doubled, so the $4,000 per person you used to get got absorbed into it. You get more in your paycheck, yes, but a lot of folks are going into tax season ill prepared for what the results are. My wife and I got a comparable refund to last year, but only because we added our 2nd son. Without him, our refund would have been down $2,000.

Also, the state of S.C. is doing the gas tax credit, where they’ll give you a credit up to $800 for gas expenses. Just save all the gas receipts instate through the calendar year, calculate your total money spent and how many gallons of gas. Have that figured into your taxes, and it’s a very unpleasant surprise. My wife got back $10 and I got $5 for all our receipt saving efforts last calendar year. It was an absolute joke! The way they break it down, you’d have to spend tens of thousands of dollars on gas to get the whole $800 credit.

[b35w]

Running your own business and doing your taxes, you will stay broke.

I’ve got somebody to do them going forward. Mine are easy from my previous job.


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[b35w]

You a salesman of sorts? If so, no more mileage deduction.

Yes. So I get no deduction?


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[TheVisorGuy]

Mileage saves my a**

[PalmettoTrooper]

I have JB Merrit in Lexington do my business taxes. Every year I go in nervous and walk out like a champ. I pay his people to do everything for me and it works like a well oiled machine. Best money I could spend to have a piece of mind.

I give him a mileage spreadsheet but what he does with it I have no clue. I do know that vehicles pulling my welders sure help me out a lot at the end of the year

[bitesize]

Can't deduct anymore unless you are 1099. I have to say for the limited amount of extra money seen in my paycheck I got completely hammered this year, I have received a refund my entire working life and this year nothing! Not sure who these new tax breaks helped!

[b35w]

Can't deduct anymore unless you are 1099. I have to say for the limited amount of extra money seen in my paycheck I got completely hammered this year, I have received a refund my entire working life and this year nothing! Not sure who these new tax breaks helped!

I’m 1099 this year but was not last year. Guess I’m screwed.


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[ecu1984]

you probably ort to ask an accountant like RP or a legal expert like Rabbitman
rather than just anyone that will reply......Pro Tip

[Steelin' Ducks]

you probably ort to ask an accountant like RP or a legal expert like Rabbitman
rather than just anyone that will reply......Pro Tip

But then there is no entertainment for the rest of us...

[coot nasty]

Just tell them you'll get it when I get it!

[ecu1984]

But then there is no entertainment for the rest of us...

true.....in that case, everyone carry on

[SaltMuck]

I’m 1099 this year but was not last year. Guess I’m screwed.


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Yes, you are, at least this year. I’d suspect to see lots and lots of sales folks switching to 1099 while we still have these tax reforms. Sales people and preachers took it on the chin under this tax law. I have 3 kids, a good job and farm on the side. My return was very nice. And yes, I claimed mileage to and fro on my schedule F.

[trkykilr]

But then there is no entertainment for the rest of us...

Seminars man. Seminars. If you talk loud enough, all dinners are seminars

[b35w]

Yes, you are, at least this year. I’d suspect to see lots and lots of sales folks switching to 1099 while we still have these tax reforms. Sales people and preachers took it on the chin under this tax law. I have 3 kids, a good job and farm on the side. My return was very nice. And yes, I claimed mileage to and fro on my schedule F.

Well that is not encouraging


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