gas write off?

[Barry M 73]

I'm a little confused here, I know I can't claim the fuel I put in my truck because I claim the business miles I put on it. I know that's what the mileage is for, gas and wear and tear. But can I claim the fuel that I put in my pressure washer on top of claiming the price of the unit? Thanks for your help.

[Celeste 341]

I can't speak for your truck (our company owns ours so we write off everything on it) but as it has been explained to me, not only can you write off the fuel for your pressure washer, you can also claim some other credit or something for the "road tax" that is included in the gas price. Since you're using the gas off the road, we should not be paying it. Work for lawn mowers, boats, tractors, and the like.

[Scott Stone 604]

Thee is an 8 cent road tax that is additional on every gallon of fuel. In order to claim it you will need to keep the receipts seperate and be able to show how many gallons of pressure washing fuel that you bought. There are also additional credits available if the diesel fuel you buy has the big truck road taxes on it. There fuel tax rate is different than cars or small equipment.

As for the truck, if you are claiming miles, there are ways to claim every mile that you drove. Mostly, unless you are using it as a family car, too, every mile is deductible. Your accountant should be able to help you out with this.

For what it is worth, I saved about $3000 last year in road tax credits.

[Deck Guy 14]

There are also state taxes applied to fuel sales that are refundable in some states. In Missouri, I don't think the refund is associated with your income taxes in any way. It used to be a separate form for just that purpose (refund of highway taxes on motor fuel). Many airplane owners use this to get the tax money back for fuel used in their aircraft (if they use auto gas).

If you don't have one, you NEED an accountant to help you! Don't be a cheapskate when it comes to your company's finances. A good accountant will save you more than he costs you!

[CCPC 26]

Thee is an 8 cent road tax that is additional on every gallon of fuel. In order to claim it you will need to keep the receipts seperate and be able to show how many gallons of pressure washing fuel that you bought. There are also additional credits available if the diesel fuel you buy has the big truck road taxes on it. There fuel tax rate is different than cars or small equipment.

As for the truck, if you are claiming miles, there are ways to claim every mile that you drove. Mostly, unless you are using it as a family car, too, every mile is deductible. Your accountant should be able to help you out with this.

For what it is worth, I saved about $3000 last year in road tax credits.

I've never heard of this, and obviously my accountant hasn't either. So you can deduct 8c for every gallon of fuel you buy for your equipment?

[BigPete 14]

Here is the form:

FORM 4136

Please note - if you get a tax credit this year, you need to claim it as other income on next year's taxes

Here are instructions -

PUB 378

It is probably best to have a professional tax guy handle this.

[Jim Carroll 14]

i have heard of guys getting a tax credit for fuel run in their boats so i guess it would also go for putting it in equipment

[bforbis 14]

I separate the cost for each fuel I use PW gas, Deseil and trk gas. Keep m,ileage etc and the account loves me and I get a big deduction. Its about 35 cent per mile, but if you keep trck of expenses they will usually exceed the standard 35 cents/mile

[Ron Musgraves 240]

http://www.pwna.org/pwna_bbs/showthread.php?t=175&highlight=fuel+tax

Thats a great link by MIKE H

[John Doherty 126]

In Colorado they have an off road use rebate as well. It isn't a penny for penny rebate but a multiple (%) of the state fuel tax. Every bit helps.

[Devo711 14]

I'm starting to read about taxes and whatnot and figure you can almost write off anything you buy that has to do with your business plus even things that don't (wink, wink)

[Barry M 73]

I'm starting to read about taxes and whatnot and figure you can almost write off anything you buy that has to do with your business plus even things that don't (wink, wink)

Now you got it. I bought a new weed eater the other day, it's a biz write off (hey I needed it to trim the grass around a driveway so I could seal it).

[John Orr 206]

Now you got it. I bought a new weed eater the other day, it's a biz write off (hey I needed it to trim the grass around a driveway so I could seal it).

Don't forget the blower so that you can blow-off the decks and drives before you seal them.

[tropical wave 22]

we write off everything.....I mean EVERYTHING if I can somehow use it for business.