OK, let's assume you do this "wholesale" idea. Although, I've already gone through this "kind" of idea with a tax man. A customer's mileage is 30 miles (ignoring the fact whether it's one way or around trip) At 95 cents a mile = $28.50 At 55 cents a mile = $25.00 Assuming you report it a 55 cents a mile - that's $3.50 profit, right ? Wrong, that now, becomes taxable income. Did you really come out ahead ? It all depends on your tax rate ? I'd stick to whats "legal" Duaine > Andrew & Rebeca Anderson wrote: >> What the IRS allows you to write-off is your "wholesale." Seems to >> be what everyone else is saying. I've been charging 95 cents a mile. >> >> Andrew Anderson > > -- > Duaine Hechler > Piano, Player Piano, Pump Organ > Tuning, Servicing & Rebuilding > Reed Organ Society Member > Florissant, MO 63034 > (314) 838-5587 > dahechler at att.net > www.hechlerpianoandorgan.com > -- > Home & Business user of Linux - 10 years > -- Duaine Hechler Piano, Player Piano, Pump Organ Tuning, Servicing & Rebuilding Reed Organ Society Member Florissant, MO 63034 (314) 838-5587 dahechler at att.net www.hechlerpianoandorgan.com -- Home & Business user of Linux - 10 years
This PTG archive page provided courtesy of Moy Piano Service, LLC