Wednesday, November 3, 2010

TAX Deductions and Missing MILEAGE:


How to Recreate Mileage Log

Recreate Mileage Log
Recreate Mileage Log
User-Submitted Article
Car, Truck, Plane - you travel you have deductions for charitable, medical, rental management and self employment. Bummer, no mileage log.

Here are suggestions on how to recreate a written log that will help document your deduction.
Difficulty: Moderately Easy

Instructions

Things You'll Need:

  • Empty records books one each for charitable, medical and one for self employment
  • Excel is helpful
  1. 1
    Get out your calendars of appointments. Copy this calender onto a MASTER calendar. In the next steps we are seeking more information and documentation. You may use a computer calendar or one that you hand write everything into.
  2. 2
    Using a scanner make copies of bank and credit card records and receipts and put in folder for back of mileage notebook. Make sure to keep originals in your yearly tax files.

    What you are looking for is information about where you spent money. Did you spend money at the pharmacy after the doctors office visit? Did you pay in cash at the doctors office on date of appointment? Do you have record of teller deposit at the bank, making self employment income deposit?

    Did you purchase gas near clients house. Did you take client out to dinner and it matches the calendar date? You spent 3.00 at the church's youth group concert where you chaperoned as a volunteer to the youth group. Add all these notations to the master calendar with the mileage notation. Make sure to not double enter. Keep copies of how your arrived at that conclusion at the back of notebook.
  3. >>>>>KEEP READING by clicking link below! 
Read more: How to Recreate Mileage Log | eHow.com http://www.ehow.com/how_4836263_recreate-mileage-log.html#ixzz14FONvhFi

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