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
Our Franchise Advisors will guide you through the entire franchising process, for FREE!
  1. Book a one-on-one session with a Franchise Advisor
  2. Take a survey about your needs & goals
  3. Find your ideal franchise
  4. Learn about that franchise
  5. Meet the franchisor
  6. Receive the best business resources
Use code MARKET2021 through 4/24/21 to save on 12 marketing books for entrepreneurs that are recommended by entrepreneurs:
  • Digital Marketing Handbook
  • No B.S. Guide to Direct Response Social Media Marketing
  • Ultimate Guide to Youtube for Business
  • And more
Make sure you’re covered for physical injuries or property damage at work by
  • Providing us with basic information about your business
  • Verifying details about your business with one of our specialists
  • Speaking with an agent who is specifically suited to insure your business

Latest on Entrepreneur