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SVTPerformance's Chain of Restaurants
Road Side Pub
Tax people of SVTP, can I write off a mode of transportation to work?
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<blockquote data-quote="RedRocketMike" data-source="post: 15965888" data-attributes="member: 51242"><p>You missed the humor, but we're talking about employees not business owners. 98% (or whatever) of tradesmen are just employees and don't have an office or a company vehicle. I worked for one of the largest non-union commercial electrical contractors for over a decade. Every field employee, including myself, wrote off all their work mileage on their personal vehicles. The reason they we are allowed to do so is the requirement to bring tools/materials to and from a work location, creates additional expenses. Can't ride the bus if you have to bring all your 20v dewalt gear. In reality most just drive to and from a job site just like a teacher drives to a school, tools are in a gangbox or whatever. But the tax loophole allows it. Most take advantage of it. I know dozens of guys writing off 30k miles a year on 120-140k plus earnings.</p><p></p><p>I still remember fighting with my accountant because it took a while before I found out I was missing out on this exploit. Can't remember if I demanded a look back or not.</p></blockquote><p></p>
[QUOTE="RedRocketMike, post: 15965888, member: 51242"] You missed the humor, but we're talking about employees not business owners. 98% (or whatever) of tradesmen are just employees and don't have an office or a company vehicle. I worked for one of the largest non-union commercial electrical contractors for over a decade. Every field employee, including myself, wrote off all their work mileage on their personal vehicles. The reason they we are allowed to do so is the requirement to bring tools/materials to and from a work location, creates additional expenses. Can't ride the bus if you have to bring all your 20v dewalt gear. In reality most just drive to and from a job site just like a teacher drives to a school, tools are in a gangbox or whatever. But the tax loophole allows it. Most take advantage of it. I know dozens of guys writing off 30k miles a year on 120-140k plus earnings. I still remember fighting with my accountant because it took a while before I found out I was missing out on this exploit. Can't remember if I demanded a look back or not. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Tax people of SVTP, can I write off a mode of transportation to work?
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