Did you know you can write yourself a check from your business for $535.00 TAX FREE!! Actually it could be more than that!
If you drive 1,000 business miles in a year (that is less than 5 miles per business day)… to the bank, to the office supply store, to a meeting, to the post office, to a client’s office, etc. … then you can write yourself a check for $535.00 from your business. The 2017 IRS Standard Mileage Rate is 53.5 cents for every business mile driven. And the good news is that the 2018 rate is going up: to 54.5 cents.
Consider that you could have five band new, crisp, $100 bills put back into your wallet simply by taking note of your car’s odometer reading as you come and go for business purposes. On paper or electronically, keeping track of business miles and getting reimbursed is a very easy!
That money is yours; but Washington DC will spend it if you don’t. So if you are not doing so already, write yourself a check. Start today.
(Header image is my old Vera Bradley Checkbook Cover. Find a similar one here! Vera Bradley Checkbook Cover in Indigo PopThis is an affiliate link to help me continue to bring you great content!)