3/30/2017 INDIVIDUAL TAX DEADLINE APRIL 18, 2017![]() Just a reminder to those who have not yet filed their 2016 tax return that April 18, 2017 is the due date to either file your return and pay any taxes owed, or file for the automatic six-month extension and pay the tax you estimate to be due. The due date is normally April 15, but the 15th falls on a weekend and the next business day, April 17, is Emancipation Day, a legal holiday in Washington D.C., so the due date in 2017 is April 18. In addition, the April 18, 2017 deadline also applies to the following:
If your returns have not yet been completed, please call right away so that we can schedule an appointment and/or file an extension if necessary. Mike McVay, Tax Accountant 850-725-5696. Mike@MIkeMcVay.com - www.PensacolaFLTax.com 3/14/2017 Reporting Business Mileage For TaxesReporting Business Mileage For TaxesWe often talk about tracking your mileage and expenses for tax purposes. But, what are you supposed to do with it? Let’s go over the basics on reporting business mileage on your tax return.
Reporting Business Mileage For Taxes If, like many self-employed workers, you are a sole proprietor, your business income and business deductions will be reported using the IRS Schedule C, Profit or Loss From Business along with your personal tax return. Line 9 will contain the category for car and truck expenses. Because many people try to abuse this deduction, the IRS requires more details. For business mileage on your Schedule C, the IRS wants to know:
Instead, you’ll need the mileage log book in case you get audited down the road—that’s why it’s a good idea to keep your mileage logs for at least five years. The IRS requires your mileage log includes a record of:
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Mike McVay, Tax Accountant Blog
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