Business Mileage Log

One of the biggest tax deductions available to self-employed taxpayers is car and truck expense.

There are two methods for taking a deduction for the business use of a vehicle:

1. Actual expenses incurred – Keep track of receipts for gas, toll, repairs, insurance, tags etc.; and
2. Business mileage – Keep a log of the miles you drive for business purposes and multiply the year end total by 50 cents.

Because of the added record keeping requirements of the Actual Expense method, most small business owners use the business mileage method.

Here is a simple Business Mileage Log.

Print it and use it to keep track of your business and personal mileage.