How do I deduct is gas tax deductible for business on my taxes?
Business Expensesfreelancersreal estate agentsconsultantssales professionalsdelivery servicesbusinesstax
Gas expenses can be deducted as part of the actual vehicle expenses method when calculating vehicle-related deductions. To qualify, the vehicle must be used for business purposes, and you must keep detailed records of the business use. This includes maintaining a log of miles driven for business, as well as receipts for gas purchases. If you use the standard mileage rate method, gas is not separately deductible because it is included in the mileage rate. It's important to distinguish between personal and business use, as only the business portion is deductible. For example, if you drive 10,000 miles in a year and 6,000 of those are for business, you can deduct 60% of your gas expenses.