Eiduk Tax & Wealth

Vehicle Mileage Log

Strategy #10: Vehicle Strategy (IRC §274)

Pay Less. Keep More. Build Wealth.
Systematic Tax Optimization For Business Owners

Vehicle & Period Information

IRS Requirements: The IRS requires contemporaneous mileage logs with date, destination, business purpose, and miles driven. Records must be maintained for each business trip throughout the year.

💡 Tip: You can either enter Business Miles directly, OR fill in Start/End Odometer readings and miles will calculate automatically. Both methods are acceptable.

Mileage Log

# Date Destination/Location Business Purpose Start Odo End Odo Business Miles
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Period Summary

📊 Blue fields are calculated automatically based on your entries above

Total Business Miles This Period: miles
Total Personal Miles This Period: miles
Total Miles Driven (Business + Personal): miles
Business Use Percentage: %
IRS STANDARD MILEAGE RATE ($0.70/mile): $
Acceptable Business Purposes: NOT Deductible: Commuting from home to regular office, personal errands, or non-business travel.

Annual Summary

Complete at Year End for Annual Tax Return Documentation

Retention Requirements: Keep this mileage log with your tax records for at least 7 years. In case of IRS audit, contemporaneous mileage logs are critical evidence for vehicle deduction claims.

Driver Certification

I certify that the mileage documented above is accurate and was actually driven for legitimate business purposes as described. I understand that false mileage claims may result in penalties and legal consequences.

Driver Signature
Date
CONFIDENTIAL: Retain for IRS compliance (minimum 7 years).