Vehicle Expenses

Keeping good records and knowing what you can deduct will save you money.
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Business mileage is tax-deductable. Business miles accumulate when you drive for the purpose of either doing business or seeking business; going to talk to a potential client, visiting a supplier, and doing something related to the promotional aspects of your business are all considered business mileage. The mileage you drive from your home office to any other location for buisiness pruposes is deductable. As with your other deductions, you must be able to support your claims for business miles. Keep a log by entering your business mileage after each trip. Enter your total daily business mileage on your appointment calendar at the end of each day.

Excerpted from Starting a Home-based Business

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.

Latest on Entrepreneur

Entrepreneur Media, Inc. values your privacy. In order to understand how people use our site generally, and to create more valuable experiences for you, we may collect data about your use of this site (both directly and through our partners). By continuing to use this site, you are agreeing to the use of that data. For more information on our data policies, please visit our Privacy Policy.