Frequently Asked Questions
- How much can I earn before my social security benefits will be reduced, and how do I get in touch with the social security administration?
- How long should I keep records?
- What should I do if I receive a notice from the Internal Revenue Service or from the State?
- What records do I need to substantiate my business auto mileage?
- Do you bill for introductory client meetings?
What records do I need to substantiate my business auto mileage?
The IRS requires businesses to maintain auto usage logs/records indicating how many miles they traveled each day. It is our experience that the IRS does not allow estimates of mileage and in fact, may disallow the entire mileage deduction if records/logs are not maintained.
ESTIMATES ARE NOT ACCEPTABLE!
Last update on July 30, 2012 by Administrator.