Choose between actual expenses or standard mileage rate for vehicle deductions, but either way you need to track miles. The presenter uses a simple Excel template: each day he records miles driven and resets the odometer, a ten-second routine that keeps records IRS-proof.
The IRS has 2 ways in which you are able to write off vehicle use in your business. Regardless of what option you choose, if you want to take actual expenses or mileage, pay for your vehicle expenses out of your business and track your miles. In the description link, we do have a very simple Excel template we put together. You can print it off and it'll have the date and And a dash, an empty space for you to write in the miles you drove for that day. This is how I track my miles. I print it off and it lives in my car all year round. So I would get in my car, let's say it says 22.6 miles. On my tracker, I write down 22.6. I reset my odometer, and now the next morning I do the same thing. It takes 10 seconds out of my life each day, and it allows me to have a very accurate mileage tracker. Again, the template is available to you in the description link below. Remember, the IRS sucks.
