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Sign into your accountWhat Is a Contemporaneous Mileage Log?
June 14 2017
The IRS wants you to keep a "contemporaneous" mileage log. But what does that actually mean? Let's go over a recent court case to see what records you need to keep.
What Does the Tax Court Want From a Mileage Log?
The Tax Court has reminded all business owners that you can't wait until you're audited to create records of your business mileage. Sam Kilpatrick, a CPA who should have known better, claimed that he drove 8,867 miles for his business during 2009. Therefore, he said he was entitled to a $4,477 mileage deduction.
Kilpatrick never kept a mileage log to record his business driving. When he was audited in 2011, he provided the IRS with a calendar with the dates he claimed to have driven for business circled and printouts from MapQuest.