Don't forget to include travel expenses in your home business record-keeping files. The government rate is 32 cents per mile.
If you work from home either part- or full-time, you understand the importance of keeping good
records. Adequate bookkeeping is important to ensure accuracy, to keep your business afloat financially, and for tax reporting purposes.
Don't overlook the value of transportation expenses. If you perform consulting either locally or regionally and use your car for transportation, you can claim mileage for each business-related trip. This may include errands such as purchasing supplies, contacting prospective clients, and delivering completed work. Check with your tax preparation guide for complete details about the type and scope of travel expenses you may be able to deduct on your tax forms each year. |