Just did my taxes, and I wrote off 10k miles at 48.5 cents per mile. Score thats almost more than my SDL is worth! Being able to write off almost the cars value every year is a sweet little loop hole.

So with all the tax money this thing is saving me, and not having to pay depreciation on a new one...this car is pretty much free after a few years.

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

It's up to $0.505/mile for 2008, and I've driven about 12K miles so far this year (it was about 40K total miles in 2007).

..........and you got back about $200.00 for all that effort..........

I used H&R block, and they said 48.5, guess they suck. But for what I paid thats life. Next year I'll use a real accountant.

What effort? I got back $200 for typing 10k into a box on the computer.

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

They are correct; it's $.485 for 2007 taxes, it's $.505 starting January 2008.

Think he meant for the 2008 tax year, the rate increased. You just filed the 2007 year, at the 2007 price. All is good.

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~Michael S.~
Past cars:

1986 300SDL
1987 300SDL
1982 240D
1982 300SD


Current:

1987 300SDL

Yup, sorry for the confusion. I'm not an accountant, but I stayed at a holiday inn express last night...

Yeah makes sense, I get them mixed up. Heck I can't remember what I need to do tomarrow without my planner.

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

We do all our own taxes... I do my own and my dad does his and my grandparents'.

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~Michael S.~
Past cars:

1986 300SDL
1987 300SDL
1982 240D
1982 300SD


Current:

1987 300SDL

I will, until they get to complicated to do myself. W2 and 1099 stuff is pretty simple.

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

I'm regretting doing mine at the moment, I'm in a hotel in atlanta with a big stack of paper trying to decide if I should just send in an extension and a large check or try to straighten out this mess. I should just plan ahead a little and hire a suit to deal with this crap.

.0505?
5 cents?

or
.505
50.5 cents?

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Ginny in Denver-ish
78 300SD, 265K (mine)

Sorry, it's 50.5 cents. I fixed my post. I should just go to bed.

Good catch.... this coming from the fellow who's sitting there poring over his taxes in a hotel.... maybe we've found part of the problem?

__________________


~Michael S.~
Past cars:

1986 300SDL
1987 300SDL
1982 240D
1982 300SD


Current:

1987 300SDL

That's for sure, I hate doing taxes. Actually, I'm ignoring them at the moment; but they are waiting for me in my suitcase. I'm just brain dead from driving 1400 miles at the moment.