Essential Tax Documents: Vehicle Log

If you sometimes use your own car for business purposes, you can claim a portion of the car’s operating expenses as a tax deduction against your business income. The IRS allows you to calculate this one of two ways. Under both methods, you are required to keep track of your business mileage in a vehicle log. This can be as simple as jotting dates, descriptions and miles into a blank notebook, or you can use software.


Leave a Reply

Your email address will not be published. Required fields are marked *