Mileage: Most Overlooked Tax Deduction
Mileage is one of the most overlooked tax write-offs.
Tuesday, April 13, 2010 17:33 GMTSAN DIEGO (Wireless Flash - FlashNews) Keeping track of your miles on the job could yield big returns come tax time.
According to Kim Luna-Miller of professional tax prep service Aalpha Oomega Enterprizes, mileage is one of the most overlooked deductions employees fail to report on their taxes.
She says people should be adding up the distances between every place they visit on the clock, especially workers like pizza delivery guys who drive around all day.
By keeping a log of the addresses they deliver to, they can rightfully write-off their mileage.
She says folks should also be recording the wear and tear on their car and uniforms they buy for work.
Nurses and chefs, for example, could write-off their slip- resistant Crocs.
Luna-Miller says small deductions can really add up, so its important to have a professional look over your paperwork to catch them all.
She once managed to boost a clients tax return from $1,100 to $7,000 after proper calculations.© Copyright 2010 Wireless Flash News Inc