It's Never Too Late

Just because 2009 is already underway it's not too late to start recording your business mileage.

When preparing your taxes for the year you can estimate the percentage of business use for a vehicle based on the actual miles that you record. The more miles that you record, the more credibility your estimated miles will have with the IRS.

One more thought - even though gas prices have recently fallen, there are still big bucks to save by claiming the business use of your vehicle(s). A friend of mine began tracking mileage for the first time in 2008 (he had operated a business for over 12 years without claiming business use miles). Now he won't get in his car without jotting down the simple notes required by the IRS.