Painting Business Owners: explore key element for auto deductions.

The IRS has a couple of hot topics and vehicles is definitely one of them. So making sure your documentation is dialed in for vehicles, especially when it comes to mileage, make sure you're tracking that. There are some apps out there that can help you track it a little bit easier. MileIQ is one. It will give you a compliant mileage log at the end of the year that you can have for your records. Obviously you can also just have a book, write your mileage and track business and personal.

You want date, miles, preferably starting odometer and ending odometer, a brief business purpose, meet with client, quality control check. Don't just write business next to everything. Those logs have been disallowed under examination. It needs to be filled out when the driving happens. I know it's a pain in the neck and we don't really want to have to add more paperwork to our day, but because the mileage deduction or vehicle deductions in general are so valuable, it is worth doing the extra record keeping.