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Mileage

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MightyMoe
(@mightymoe)
Posts: 10121
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I'm stuck with the IRS number for one client.?ÿ

Good thing I don't have to drive really far.

 
Posted : October 12, 2022 10:35 am
michigan-left
(@michigan-left)
Posts: 384
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With the incresased cost of fuel, etc, using direct costs for auto expenses instead of mileage deductions may turn out to be a better deal.

Stated another way: I would think the $0.625/mile shouldn't be a "deal breaker".

And I would also think how you file your taxes is up to you.

Increased overhead built into rates should help offset costs.

 
Posted : October 12, 2022 10:52 am
MightyMoe
(@mightymoe)
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Posted by: @michigan-left

With the incresased cost of fuel, etc, using direct costs for auto expenses instead of mileage deductions may turn out to be a better deal.

For this client there's no options, whatever the IRS says, that's what I have to use.?ÿ

?ÿ

 
Posted : October 12, 2022 10:56 am
michigan-left
(@michigan-left)
Posts: 384
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@mightymoe?ÿ

Fair enough.

I recommend you seek a better CPA.

 
Posted : October 12, 2022 11:03 am
MightyMoe
(@mightymoe)
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Posted by: @michigan-left

@mightymoe?ÿ

Fair enough.

I recommend you seek a better CPA.

I get what you're saying, but it's only one client, every other job gets our regular charges. However, for this job I have an estimate to prepare and my one and only option is the IRS mileage rate, I was surprised how low it is, I haven't looked at it in a couple of years.

 
Posted : October 12, 2022 1:52 pm

holy-cow
(@holy-cow)
Posts: 25375
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You can surely find some "deductible purchases" that will more than cover any lost income. ???? ?????ÿ

 
Posted : October 12, 2022 1:56 pm
michigan-left
(@michigan-left)
Posts: 384
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@holy-cow

image
 
Posted : October 12, 2022 2:00 pm
MightyMoe
(@mightymoe)
Posts: 10121
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Posted by: @holy-cow

You can surely find some "deductible purchases" that will more than cover any lost income. ???? ?????ÿ

SHHHHHH?ÿ ????

 
Posted : October 12, 2022 2:49 pm