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OK – maybe you don’t have a Tuppermobile like I do – but maybe you have a different home business?
Did you know that when you drive your car for business – parties, trainging, deliveries, meetings, and so on – you are actually making money?
The government is allowing you .51 cents per mile to be deducted from your taxes at the end of the year for business mileage. Let’s say, your vehicle gets 20 miles per gallon and gas costs $4.50 per gallon (not yet, thankfully). It is only costing you .22 ½ cents per mile to drive your vehicle. With the government giving you .51 cents per mile, you are actually making .28 ½ cents every mile you drive your car for business.
Let’s look at this even further….. If you drive 30 miles to a party or go to a training, that totals up to be almost $10.00 in your pocket!
It doesn’t matter how far you have to drive to get to a party, Rally, meetings, and other business events – you are making money every time you drive your vehicle for business! So, hop in your car and go! Make sure you are taking your catalog/monthly special flier EVERYWHERE with you and talking a little business where ever you go.
It’s sad to think that people who work for other businesses, doctors’ offices, Kohl’s, McDonald’s, and so on can’t claim their mileage as a business expense on their taxes. Being self employed, we have so many good tax breaks!!