# How Do Your Tangible Expenses Compare to Your Mileage



## BloNoUber (Jul 5, 2016)

I know that most people figure in their depreciation into their expenses, but when you look at only receiptable items (gas, car washes, repairs, etc) - what is the per mile amount for you? Mine is only about 19c which I thought seems pretty low since I read that the general tax credit is like 54c per mile (if I recall correctly).

Is it because my car is newish and has pretty good fuel economy or am I missing something?

What is yours?


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## steveK2016 (Jul 31, 2016)

My CPA advised me that mileage deduction far outweighs expenses., especially with the miles we put into Ubering.


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## SEAL Team 5 (Dec 19, 2015)

BloNoUber said:


> but when you look at only receptacle items (gas, car washes, repairs, etc) - what is the per mile amount for you? Mine is only about 19c


Do you figure rideshare/commercial insurance? Have you put 80k miles in ride sharing yet to buy tires, brakes and a major routine maintenance package?


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## BloNoUber (Jul 5, 2016)

SEAL Team 5 said:


> Do you figure rideshare/commercial insurance? Have you put 80k miles in ride sharing yet to buy tires, brakes and a major routine maintenance package?


I've figured everything in, not sure why it's so low. I've only put about 10k miles (4 months).


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## Mars Troll Number 4 (Oct 30, 2015)

BloNoUber said:


> I know that most people figure in their depreciation into their expenses, but when you look at only receiptable items (gas, car washes, repairs, etc) - what is the per mile amount for you? Mine is only about 19c which I thought seems pretty low since I read that the general tax credit is like 54c per mile (if I recall correctly).
> 
> Is it because my car is newish and has pretty good fuel economy or am I missing something?
> 
> What is yours?


umm... because repair work is fixing parts that break from wear and tear, your expenses can only be calculated retroactively... I.E. the cost of a new transmission is steep but every single mile you have ever driven up until the transmission explodes factor in to prv of needing a new transmission.

Quite literly everything you are coming up short of your true expenses is the calm before the storm of something exploding and needing engine work, even if it's a year or more down the road. A few hundred for tires in a few months, a break job... it will hit eventually.

Most of the parts in cars will last close to the end of the warranty before they start needing replaced. Then they start hitting one by one.

Please do not forget that your car is depreciation at an accelerated rate and the 54c a mile also factors into that as well.

The last time I had an iNdependent taxi I ran it for 200,000 miles total and with commercial insurance included it ended up costing me $100,000 or so over 4 years for a newly purchased car.

Until you really hit high mileage the costs your seeing are below average yes.


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