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Updated over 6 years ago on . Most recent reply

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Calus Glispie
  • Rental Property Investor
  • Tampa, FL
42
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52
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Can driving for dollars be counted as a tax deduction?!? 🤔

Calus Glispie
  • Rental Property Investor
  • Tampa, FL
Posted
Just Wondering if I would be able to count my driving for dollars as a tax deduction. I have the mile iq app and when i drive for dollars i usually turn it on so it can count for my business. Am i wasting time doing this or is it a good idea?? Plz help thank you

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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied

pretty sure that would be a write off.. either mileage or gas and insurance and car.. I think you can take one or the toher direct expenses or mileage.. I always took mileage when I sold real estate because I drove 20k miles or more a year easy in my formative real estate brokerage years.. now being a desk jockey I don't even drive 10k miles and with my latest project just 12 miles from home I suspect that will go down as well.  But last year I flew over 95,000 miles.. and that was all a write off.. this year less probably end up at 75,000 or so..

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JLH Capital Partners

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