The IRS wants you to keep a “contemporaneous” mileage log. But, what does that actually mean? Let’s go over a recent court case to see what records you need to keep.
What Does The Tax Court Want From A Mileage Log
The Tax Court has reminded all business owners that you can’t wait until you’re audited to create records of your business mileage. Read More
If you drive a personal vehicle for business purposes, the business mileage deduction is a great way to save money on your tax bill. But the HMRC won’t just take your word for it, it needs proof. Here’s what the HMRC will want in your mileage log.
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