Hi everyone.
I've been reading the discussion here on mileage deductions and adding extra fees for time on the road. I'd like to add my take here based on discussions with my Dad...a retired Accountant...who is just completing his...56th...Income Tax Season. If you're wondering about Dad's credibility...he's still serving Clients he's had for over 45 years...not many of those anymore...but still doing a good business at this time.
Dad said the mileage...currently 58.5 cents/mile is completely deductable when going on a job that's business related. If you want to add an extra fee for time spent on the road...that should be added to your bill and treated as taxable income. You cannot take any repair bills on your vehicle and mileage as deductable...it must be one or the other.
If you're wondering about Dad's credibility...he's still serving Clients he's had for over 45 years...not many of those anymore...but still doing a good business at this time.
I hope this helps...and thanks for reading.
Marc P. Mailhot
Marco Polo Music
Westbrook, ME USA
The Love You Take is Equal to the Love You Make...
The Beatles/Abbey Road (The End)...1969
--- On Wed, 4/8/09, pianotech-request at ptg.org <pianotech-request at ptg.org> wrote:
From: pianotech-request at ptg.org <pianotech-request at ptg.org>
Subject: pianotech Digest, Vol 6, Issue 115
To: pianotech at ptg.org
Date: Wednesday, April 8, 2009, 8:19 AM
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Today's Topics:
1. Re: Book publishing (Chuck Behm)
2. Re: word wrap in archives (Jon Page)
3. Re: Mileage charge (Kerry)
List - I would just like to second Ed Sutton's message about submitting technical material to the Journal. I can say from personal experience that it is just a great thing to do. Everyone who has been in the business for very long, probably has ideas they could share. Just because you don't "know it all" doesn't mean you don't have worthwhile methods and ideas that others would love to hear about. I certainly don't know it all - far from it, in fact, and I'm able to come up with monthly articles about procedures that we use in our shop that someone else hopefully could profit from.
So if you're sitting there thinking, "Well, I could try writing about this," give it a try. The worse that could happen might be a polite, "No thanks," from the editor. It's been my experience, however, that the Journal staff is very willing to work to help bring your ideas to light. It's really fun to see your own ideas published in the Journal - something that beforehand, you would never think could happen.
One hint, as far as writing about shop procedures. Take pictures, and lots of them. Good photos provide the framework for a well written article. With digital photography, it's simple to shoot a process from multiple angles, and go through them on the computer to find the best shot. (You would be amazed at the number of shop related photos I have on my computer!)
Give it a try! It can really be a positive experience! Chuck Behm
But back to the archives -- how does one fix it so the characters
don't stretch from Denver to Kansas?
Maybe if you use the return key to denote a new line and not let your e-mail program automatically default to a new line at the end of your 72 characters. When that happens, I simply copy the text, click on the author's address and a new e-mail is addressed to p-tech with the subject; then paste the text and read; delete the new mail - don't send it unless you want to replay in which case you can edit out irrelevant text.
The top paragraph was types using the default line length,
no return key used. This section is using the return.
Let's see if that makes a difference. I use Eudora so another
program or web-based reader will handle the formatting
differently.
I have noticed that if I do not use the return key soon enough in the line, the archives will
automatically chop the line and insert it before the 'returned' line.
(That was written in two lines)--
Regards,
Jon Page
I totally agree. It reminds me of when I was a kid working in a gas station and I got slickered by a fast-change artist (not implying an intent to cheat anyone here, just an over-complication of a simple matter).
It’s this simple, folks:
1. The IRS mileage rate is a deduction for a business expense
2. What you charge your customer is income, no matter what you call it
You can use the IRS rate as a basis for what you charge your customer, but don’t confuse the two.
Kerry Kean
Kent, Ohio
From: David Love [mailto:davidlovepianos at comcast.net]
Sent: Tuesday, April 07, 2009 10:52 PM
To: pianotech at ptg.org
Subject: Re: [pianotech] Mileage charge
This discussion has certainly gotten convoluted.
David Love
www.davidlovepianos.com
From: pianotech-bounces at ptg.org [mailto:pianotech-bounces at ptg.org] On Behalf Of PAULREVENKOJONES at aol.com
Sent: Tuesday, April 07, 2009 7:36 PM
To: pianotech at ptg.org
Subject: Re: [pianotech] Mileage charge
Ummm, no. This in no way implies a "double set of books". Where on earth did you get that idea? It's straightforward accounting. The "profit" total goes on my Schedule C no matter from where I derive it. It may be that creating a "surcharge" to the client for mileage is a questionable business practice, but it is no way illegal.
Paul
In a message dated 4/7/2009 9:25:52 P.M. Central Daylight Time, dahechler at att.net writes:
Fine, you want to keep a double set of books - more power to ya - not fur me !
PAULREVENKOJONES at aol.com wrote:
In a message dated 4/7/2009 8:12:21 P.M. Central Daylight Time, dahechler at att.net writes:
Assuming you report it a 55 cents a mile - that's $3.50 profit, right ?
Right.
Wrong, that now, becomes taxable income.
No, still right. It's taxable, but there is still profit, just not as much.
Did you really come out ahead ? It all depends on your tax rate ?
No it doesn't. You still come out ahead, just not by as much as the untaxed profit. There is no 100% tax bracket.
I'd stick to whats "legal"
When did it become illegal to make a profit?
Paul
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63034(314) 838-5587dahechler at att.netwww.hechlerpianoandorgan.com--Home & Business user of Linux - 10 years
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